technological processes in Europe, which cause national and Euro-wide inflations to move together. These findings are robust to the …

economic fundamentals of Euro area member countries have not harmonized. The opposite holds: the Euro core countries - most of … international competitiveness. Although the overall balance of payments for the Euro area at large is almost balanced, internal … disequilibria are skyrocketing and default risk premiums and tensions within the Euro area are rising, thus jeopardizing the …

deficits in the euro area by constructing a multi-country model in which the optimization behaviors of governments as well as … can temporarily adhere to their own intrinsic preferences because fiscal policies are not unified in the euro area. This … and economic stability should be shifted more to the side of stability and that the euro area has to become more …

Romania and the euro zone from the perspective of European Monetary Union (EMU) integration. Despite the fact that the euro … and the euro zone, on the importance of the idiosyncratic shocks for the Romanian macroeconomic fluctuations, on the … convergence of the Romanian business cycle with that of the euro zone, however, with regard to structural convergence, the …