monetary union (EMU). Two major causes have been identified for one crisis in the EMS in September 1992 and its subsequent …

decipher the type of economic analysis and macroeconomic policies of the Economic and Monetary Union (EMU) theoretical and … the EMU macroeconomic policies lie in their potential to achieve full employment and low inflation in the euro area. We … conclude that the institutional and policy arrangements surrounding the EMU and the euro are neither adequate for dealing with …

stabilization. Each member country of the Economic and Monetary Union (EMU) can affect the monetary policy pursued by the EMU …

eroded political support for actions aimed at enhancing EMU membership chances. …

The main issue in the early years of EMU is one of credibility. On one hand, high exposure to asymmetric shocks and low … adaptability (be it in terms of stabilization or adjustment) to both symmetric and asymmetric shocks make the early years of EMU … potentially problematic. On the other hand, significant economic differences between EMU countries raise questions regarding the …

-tradable products. Compared to the US, the dispersion level of consumer prices has always been higher in the euro area, but EMU is …

A disadvantage of EMU is the lack of national monetary policy to absorb country-specific shocks. The seriousness of … shocks within EMU. The aim of this paper is to analyse empirically whether shocks in EMU became more or less symmetric. The … results suggest that within EMU the symmetry of demand shocks increased during the last two decades, whilst the symmetry of …