The move to monetary union has been criticized by many economists and the weak performance of the euro on the foreign … has been a success, even though the EMU policy framework remains to be completed. This paper looks at the introduction of … currency. It then discusses the EMU policy framework and how it might evolve before offering a verdict on the euro so far. …

The stringent deficit criterion followed by the EMU is motivated by the belief that a sustainable fiscal arrangement is … a must for a viable monetary union. In this paper we provide an empirical analysis of the issue of deficit convergence …

(EMU), the first step sees development of a Post-Keynesian competitive claims model of inflation with endogenous money. In … the EMU, different scenarios determined by wage bargainingcoordination and the European Central Bank's (ECB) monetary …Assessing the effects of monetary policy and wage bargaining on employment andinflation in the European Monetary Union …

(EMU), the first step sees development of a Post-Keynesian competitive claims model of inflation with endogenous money. In … the EMU, different scenarios determined by wage bargainingcoordination and the European Central Bank's (ECB) monetary …Assessing the effects of monetary policy and wage bargaining on employment andinflation in the European Monetary Union …

studies having identified a relevant link between the creation of a monetary union and an upgrading of trade intensity between …

widened. However, the perpetuation of the established monetary structure of the CFA-Zone became increasingly anachronistic. As …-Zone never fulfilled the most crucial preconditions of an optimal currency area. The peg to the EMU, orientated at the interests …

worse suitable for EMU membership than the current participants. The theory of optimum currency areas provides several … criteria and econometric tools for analysing a prospective monetary union. Building on methodologies developed with regard to … the current EMU we use a structural VAR approach in order to identify economic shocks that hit the countries to be …

Using area-wide data, we simulate the responses of inflation and real output following monetary shocks in the EMU. We … value of money growth (the "first pillar" of the Eurosystem's monetary strategy). Shocks to the effective exchange rate have … a rapid impact on prices, money growth and real activity. As the exchange rate itself is hardly affected by monetary …

Using area-wide data, we simulate the responses of inflation and real output following monetary shocks in the EMU. We … value of money growth (the "first pillar" of the Eurosystem's monetary strategy). Shocks to the effective exchange rate have … a rapid impact on prices, money growth and real activity. As the exchange rate itself is hardly affected by monetary …

European Central Bank's (ECB) monetary policy. In order to obtain a time-varying measure of monetary policy uncertainty in both …