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De jure versus de facto: Exchange rate stabilization in Central and Eastern Europe

Schnabl, Gunther - 2003

group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate … classifications. Most of the CEE countries peg their currencies to the euro, thereby contributing to a growing euro zone. Nevertheless …, as exchange rate stabilization against the euro is pursued with different degrees and with different long-term drifts …

Persistent link: https://www.econbiz.de/10010305084

Assessing the Impact of Enlargement on the Eurozone

Praussello, Franco - In: Economia Internazionale / International Economics 57 (2004) 1, pp. 11-39

The increased heterogeneity of the European market after the prospective joining of the acceding countries to EMU could … will decrease, implying a more difficult stabilisation task for the governance authorities of EMU. Yet all this does not … necessarily imply a possible disruption of EMU. In the paper two exercises are presented for assessing the impact of enlargement …

Persistent link: https://www.econbiz.de/10008490675

Implications of EMU for Global Macroeconomic and Financial Stability

Döhring, Björn; Temprano-Arroyo, Heliodoro - Directorate-General Economic and Financial Affairs, … - 2008

The paper examines the implications of EMU for world macroeconomic and financial stability, distinguishing EMU effects … from other global factors at work. It concludes that EMU is having on the whole stabilising effects on the world economy …

Persistent link: https://www.econbiz.de/10008459226

MONETARY INTEGRATION, FROM THEORY TO PRACTICE

IVANESCU, Laura-Cristina - In: Internal Auditing and Risk Management 23 (2011) 3, pp. 39-50

Started in the second half of the 19th century with the creation of the Latin Monetary Union (1865), the European integration has often outrun the economic theories, due to the visionary minds of its initiators that have placed the economic and monetary integration process, from the very...

Persistent link: https://www.econbiz.de/10010540422

Sovereign bond market integration: the euro, trading platforms and globalization

Wolff, Guntram B.; Schulz, Alexander - 2008

We disentangle different driving factors of sovereign bond market integration by studying yield co-movements of EMU … increased gradually in the course of the last 15 years in EMU countries, as well as the UK, the US and the German Länder. The … euro, as well as increasing international capital flows, appear to drive low frequency integration. In contrast, yield …

Persistent link: https://www.econbiz.de/10010295883

The endogeneity approach of the theory of optimum currency areas: what does it mean for ASEAN + 3?

Löchel, Horst; Baumann, Stefan - 2006

The paper analyzes if and how the experiences of European integration can be used for the progress of East Asia integration especially of the ASEAN+3 countries1. Of special interest is the relevance of the new endogeneity approach of monetary integration for East Asia. The question is discussed...

Persistent link: https://www.econbiz.de/10010298914

OCA theory and EMU Eastern enlargement: An empirical application

Weimann, Marco - 2003

years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the … present EMU and use a structural VAR approach to evaluate EMU suitability of the candidate countries. To correct for the …

Persistent link: https://www.econbiz.de/10010301776

OCA theory and EMU eastern enlargement: An empirical application

Weimann, Marco - 2002

worse suitable for EMU membership than the current participants. The theory of optimum currency areas provides several … the current EMU we use a structural VAR approach in order to identify economic shocks that hit the countries to be …

Persistent link: https://www.econbiz.de/10010305411

Imbalances? What imbalances? A dissenting view

Wray, L. Randall - 2012

It is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces unleashed by the...

Persistent link: https://www.econbiz.de/10010286507

OCA theory and EMU Eastern enlargement : an empirical application

Weimann, Marco - 2003 - This version: April 2003

Persistent link: https://www.econbiz.de/10010503148