We analyze business cycle convergence in the EU by focusing on the decoupling vs. convergence hypothesis for central … correlation levels of CESEE countries with the EA after their EU accession in 2004. Finally, we find a significant decoupling of …

cycles among members of Economic and Monetary Union (EMU) which might arise due to the lack of country-specific monetary …

This paper presents an ex-post assessment of the current situation of the EMU in light of the conditions prescribed by … inception of the EMU, others were missing at the beginning, but improved over time as expected by the endogenous approach to the …, the mechanism proved weak and non-resilient. The inherent weaknesses of the EMU became evident. Fourth, as it had been …

A major economic reason for the introduction of the euro was its supposedly positive effect on intra-EMU trade …. Existing studies examine this suspicion indirectly using non-EMU data and report ambiguous results. We estimate the euro …-effect directly from data that include EMU observations. Using a dynamic panel model for annual bilateral exports, we find that the …

-Zone never fulfilled the most crucial preconditions of an optimal currency area. The peg to the EMU, orientated at the interests …

Council, named the ‘Pact for the Euro’, to design a new governance of the EMU, can be considered a fairly significant step for …

incorporated into the contract were appropriate to prepare the EU-member-countries for European Monetary Union. We argue that at … least inflationary convergence was not a necessary precondition for EMU. This paper aims at analyzing the effects of the … inflation criterion with regard to its possible influence on welfare of the EU-member-states during the transitional phase …