The work adopts an old Keynesian perspective to evaluate the EMU. Such a perspective raises concerns with the … effectiveness of monetary policy, the feasibility of monetary policy, and the political economy of monetary policy. The EMU brings … EMU depends on whether effective sovereign monetary policy is feasible now and in the future, whether the EMU constitutes …

The work adopts an old Keynesian perspective to evaluate the EMU. Such a perspective raises concerns with the … effectiveness of monetary policy, the feasibility of monetary policy, and the political economy of monetary policy. The EMU brings … EMU depends on whether effective sovereign monetary policy is feasible now and in the future, whether the EMU constitutes …

& Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business … the EMU and investigates in how far this has altered macroeconomic transmission. We find that Austria's economy appears to … estimations on pre-EMU and EMU subsamples we find that the contribution of (rest of the) Euro Area shocks to Austria's business …

(part II) of Benelux, France and Germany (EMU-5) covering the period of 1997-2004. The fiscal policy part concentrates on … monetary policy affairs, the heterogeneity of EMU-5 members is surveyed. The brief analysis of two main aspects of the monetary …

We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member … countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another … linkages in explaining asymmetries across EMU member countries in terms of their outward and inward bond investments vis …

This paper aims at the provision of applicable recommendations for institutions and actors involved regarding the EMU … benefits and losses of EMU accession may differ with regard to the different issue areas. To get to clear-cut recommendations …