The EMU assigns a very marginal role to economic policy and relies on the leading idea that, if prices are kept … weakened for monetary policy. The paper finally states that the EMU’s rigid rules for both fiscal and monetary policy have …

assessing the economic performance of EMU countries, a size divide appears between small, and fast-growing economies and larger … laggard ones. I explain this phenomenon by examining how the institutional settings of the EMU?namely, the Stability and …, with data on the pre-EMU period and on countries that opted out of the monetary union, confirms that the size divide in …

In this paper we review and estimate Taylor-type reaction functions of the ECB for the first five years of EMU. We find …

The paper considers whether Sweden should join the EMU as based on general equilibrium (GE) effects through reduced … estimated in the paper, and the estimates of trade barriers linked to EMU reached in the literature. First, we present an … Swedish entrance into EMU. The effects are quite clearly in favour of EMU enlargement, and do not indicate a trade diver …

The EMU governance has showed to be incapable of an effective crisis management following the global downturn. The … recent decisions by European Council taken in March 2011, named the ‘Pact of the Euro’, to design a new governance of the EMU … future of the EMU. Moreover this contribution evaluates critically the new governance of the EMU and the economic policy …

for EMU. Over the years, the Commission has taken its role as guardian of the Treaties and initiator of Community policies … Commission. This is followed by an analysis of the Rome Treaty, especially the monetary dimension. Thereafter, we go into the EMU …

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner’s model, monetary …. Although we come up with some weak evidence for increased business cycle amplitudes within the EMU, we neither find a … significant general effect of the EMU on wage growth nor on unemployment. …

We examine whether the EMU has led to greater labour market flexibility, differentiating between reform that enhances … types of labour market reform are driven by different variables. Most importantly, our results suggest that the EMU has had … increases long-run output suggests that the EMU has not affected this type of reform either. …