depreciation of the domestic currency. Given the above conclusions the euro introduction in Croatia may be seen as a desirable …

The present paper is concerned with the prospect of euro adoption in Romania. The study starts from the relevant … that there is room for the conduct of macro policies to become more supportive to the process of euro adoption and that the …

shocks. The welfare gains of a small country joining the eurozone depend on the extent to which the benefits (if existent) of … the EMU, in no case should cutbacks be made for small countries concerning the stability requirements. -- Euro ; European …

regard to the prices of traded goods in small countries that have not adopted the euro and uses the Bayoumi-Eichengreen OCA … not adopted the euro have increasingly seen a change in the determinants of their traded goods prices. This seems to … contrast with the experience of small countries that adopted the euro. The results need to be interpreted carefully, given the …

(ERM2) and hence their adoption of the euro. Our empirical results support the following recommendations: authorities need …) consider adopting fiscal rules. Therefore, the countries with serious fiscal problems should not rush to enter the Eurozone …

that incorporate real exchange rate effects. Moreover, we explicitly consider the impact of future euro area entry by … switching models as well as by estimating a differential rule vis-à-vis the existing euro area. Lastly, the paper also considers … interest rate setting behavior in Hungary does not resemble that of the euro area. Also, counterfactual experiments reveal that …

before a formal and permanent link to the euro, while real convergence is the ultimate objective of economic integration …. Novel features of the paper include broader measures of real convergence in both euro as well as local currencies, an …

risk premiums in the EU accession countries as they undergo monetary convergence to the eurozone. It proposes a monetary …