after the introduction of the euro for the EMU countries asopposed to the non-EMU countries. I do not obtain strong evidence … supporting PPP forthe EMU countries since the euro adoption, but the faster mean reversion I observe inthe few EMU countries …) countriesthat adopted the euro, and 3 non-EMU countries] from 1993 to 2002 using a dynamicpanel data model. My main contributions to …

This paper explores the conflict of real and monetary convergence during the EMU run-up of the future Central and … within the projected time frame. Despite the merits of nominal appreciation, countries committed to hard euro pegs might …

Traditionally clustered around one leading "hegemonic" world currency, with the introduction of the euro the … in the international consequences of the introduction of the Euro and analyzes the costs and gains from cooperation in … give an overview of the legal issues surrounding the representation of the EMU in the international monetary institutions …

of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the …The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its … "outs" to fulfill the convergence criteria, and whether in this case "ins" open the door for the "outs" to enter the euro …

("soft-currency" countries). If the EMU will start with a large group there will be a tendency to devalue the Euro against …Recent economic forecasts increase the probability that firstly, the EMU can start as planned on January 1, 1999 and … large "non-optimal" EMU are as expected. On the one hand, there are positive income effects for all countries ?? although …