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What effects is EMU having on the euro area and its member countries? An overview

Mongelli, Francesco Paolo; Vega, Juan Luis - European Central Bank - 2006

This paper addresses the effects of the European Economic and Monetary Union (EMU) since the introduction of the euro -- on economic and financial structures, institutions and performance. What type of changes is the euro fostering? What forces is it setting in motion that were not there before?...

Persistent link: https://www.econbiz.de/10005530772

Endogeneities of optimum currency areas: what brings countries sharing a single currency closer together?

De Grauwe, Paul; Mongelli, Francesco Paolo - European Central Bank - 2005

new interest in this debate. Four areas are analysed: the endogeneity of economic integration, in which we look primarily … at evidence on prices and trade; the endogeneity of financial integration or equivalently of insurance schemes based on … capital markets; the endogeneity of symmetry of shocks; and the endogeneity of product and labour market flexibility. We …

Persistent link: https://www.econbiz.de/10005530780

Economic and monetary integration of the new Member States - helping to chart the route

Angeloni, Ignazio; Flad, Michael; Mongelli, Francesco Paolo - European Central Bank - 2005

This paper examines diverse aspects of the monetary integration of the ten new Member States (NMS) which joined the EU on 1 May 2004 into the euro area. Most NMS have undergone a rapid and deep transformation in all areas with considerable progress in their processes of reform and convergence,...

Persistent link: https://www.econbiz.de/10005042601

"New" views on the optimum currency area theory: what is EMU telling us?

Mongelli, Francesco Paolo - European Central Bank - 2002

we are confronted with two distinct paradigms -- specialisation versus endogeneity of OCA. JEL Classification: E42, F15 …

Persistent link: https://www.econbiz.de/10005816312

What does European institutional integration tell us about trade integration?

Mongelli, Francesco Paolo; Dorrucci, Ettore; Agur, Itai - European Central Bank - 2005

The start of the European Economic and Monetary Union (EMU) has spurred a new interest in the debate on the effects of monetary unions on regional economic integration. This literature either investigates past episodes of monetary unions or attempts to gauge any effect with a few years of EMU...

Persistent link: https://www.econbiz.de/10005033407

Should central banks really be flexible?

Grüner, Hans Peter - European Central Bank - 2002

In this paper I show that central bank flexibility may not be desirable when it encourages trade unions to behave more aggressively. The argument is based on a model where risk averse trade unions interact with a central bank. A flexible central bank stabilizes economic shocks and reduces output...

Persistent link: https://www.econbiz.de/10005222378