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Economic and Monetary Union - The Third Stage

Barrett, Gavin - 2009

This paper is an examination of the legal basis of Economic and Monetary Union. The law stated therein was up to date on 12 February 1997. Since almost all of the EC Treaty provisions have been left entirely unamended since that date, the paper retains much of its relevance, although readers...

Persistent link: https://www.econbiz.de/10014214702

What Really Ails the Eurozone? : Faulty Supranational Architecture

Razin, Assaf; Rosefielde, Steven S. - 2013

and recovery patterns for key EU members like Germany, France (within the Eurozone) and the United Kingdom (outside the … Eurozone) were similar. However, after the bubble burst and the crisis began unfolding it became clear that the Eurozone plight … differed from America’s in one fundamental respect. There was no exact counterpart of Eurozone GIIPS (Greece, Italy, Ireland …

Persistent link: https://www.econbiz.de/10014162032

The Euro from a Business Perspective

Dilger, Alexander - 2023

The euro area has several problems. Nevertheless, there is not only strong political support for it, but also most companies back the euro or at least do not complain. It is worthwhile to analyse which companies do profit from the euro and why most others do not oppose it. Exporting companies in...

Persistent link: https://www.econbiz.de/10014253949

Bringing Together or Driving Apart the Union? Towards a Theory of Differentiated Integration

Kolliker, Alkuin - 2004

This contribution develops a theory on the impact of differentiation on integration and unity among EU member states and discusses empirical evidence from four policy areas. According to the theory, the centripetal effects of closer cooperation among willing EU members on initially unwilling...

Persistent link: https://www.econbiz.de/10014129884

The European Contribution to International Financial Stability

Portes, Richard - 2002

This paper considers how the European Union, and more specifically the euro area, can contribute to international financial stability. It sets the issues in the broader framework of financial globalization and international capital mobility. Sections 1-3 discuss globalization, international...

Persistent link: https://www.econbiz.de/10014123535

Pilgrims to the Eurozone : How Far, How Fast?

Kočenda, Evžen; Kutan, Ali M.; Yigit, Taner M. - 2006

In our analysis, we re-examine the nominal and real convergence of all recent ten European Union (EU) members to EU standards. Testing for monetary convergence has significant implications for interim optimal exchange rate and monetary policies before a formal and permanent link to the euro,...

Persistent link: https://www.econbiz.de/10014053885

Rogoff's Central Banker Cum Stability and Growth Pact : Mutually Reinforcing Institutions or a Cursed Overdose?

Ripoll, José - 2003

Two different institutions, meant to provide each other's support, underpin economic policymaking in Euroland. First, a shared central bank whose objectives and operational procedures imply inflation stabilization weighting more heavily (relative to employment stabilization) than that the social...

Persistent link: https://www.econbiz.de/10014075582

The road to Ithaca : the Gold Standard, the Euro and the origins of the Greek sovereign debt crisis

Dellas, Harris; Tavlas, G. S. - 2022

The origins of the Greek-sovereign debt crisis were the country’s large fiscal and external imbalances. The key factor that abetted those imbalances was the absence of a short-tomedium term adjustment mechanism -- due to perceptions of sovereign bailouts -- in the euro-area that would have...

Persistent link: https://www.econbiz.de/10014079607

Regional currency arrangements : insights from Europe

Christl, Josef - 2022

This paper focuses on the requirements and features of a successful monetary union on the basis of the optimum currency area theory, the “logical roadmap” for integration as proposed by Balassa as well as the economic and institutional framework of the European Economic and Monetary Union...

Persistent link: https://www.econbiz.de/10014080596

Regional Price Adjustment in a Monetary Union

Berk, Jan Marc; Swank, Job - 2011

Using a New-Keynesian framework, we investigate how far the inflationary processes in member states of EMU cause regional price levels to converge. We fail to produce hard evidence of the present existence of such an adjustment mechanism, notwithstanding that inflation in some countries tends to...

Persistent link: https://www.econbiz.de/10014110022