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Beggar Thy Neighbour: Exchange Rate Regime Misadvice from Misunderstandings of Mundell (1961)

Pope, Robin - 2007

unaddressed when economists extended Mundell (1961) via expected utility theory since this theory also ignores the impossibility … decisions. The problems can be overcome by modelling within SKAT, the Stages of Knowledge Ahead Theory. This paper points to …

Persistent link: https://www.econbiz.de/10010263183

Keynesian and Austrian Perspectives on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth

Maurel, Mathilde; Schnabl, Gunther - 2011

asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …

Persistent link: https://www.econbiz.de/10010334490

Measuring the Business Cycle Similarity and Convergence Trends in the CEECs Towards the Eurozone with Respect to some Unclear Methodological Aspects

Rozmahel, Petr - 2009

discussion on the process of joining the Eurozone by the Czech Republic and other candidate countries. The paper provides an …. Measures of business cycle similarity are ordinarily used to evaluate preparedness of candidate countries to join the Eurozone …. The results indicate continuing convergence of the business cycle similarity between the candidate and Eurozone member …

Persistent link: https://www.econbiz.de/10011435274

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

De Grauwe, Paul; Mongelli, Francesco Paolo - 2005

This paper brings together several strands of the literature on the endogenous effects of monetary integration: i.e., whether sharing a single currency may set in motion forces bringing countries closer together. The start of EMU has spurred a new interest in this debate. Four areas are...

Persistent link: https://www.econbiz.de/10011604514

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

Mongelli, Francesco Paolo; Vega, Juan Luis - 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/10011604645

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

Angeloni, Ignazio; Flad, Michael; Mongelli, Francesco Paolo - 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/10011606188

From Floating to Monetary Union: The Economic Distance between Exchange Rate Regimes

Hochreiter, Eduard; Siklos, Pierre - 2004

The successful start of Economic and Monetary Union in Europe has prompted more research into the issue of exchange rate regimes and if there were any lessons to be drawn from the European experiment for other regions in the world. We review the relevant issues from an Optimum Currency Area...

Persistent link: https://www.econbiz.de/10011689916

The Forex Regime and EMU Expansion

van Foreest, Pieter W.; de Vries, Casper G. - 2002

This paper provides evidence that the choice of the foreign exchange regime is not of first order importance for achieving high output growth. It is argued that due to the forward looking nature of the foreign exchange market, exchange rate stability hinges on the current and anticipated...

Persistent link: https://www.econbiz.de/10010324808

The fiscal stability impact of monetary unions: looking beneath the Stability Pact debate

Paulus, Philipp - 2004

The discussion about the impact of a monetary union on the fiscal stability of individual member countries is largely confined to European Monetary Union and the Stability and Growth Pact (SGP) debate, which in turn tends to focus more on optimal fiscal rules. However, when adding insights from...

Persistent link: https://www.econbiz.de/10010263499

Fear of floating needn't imply fixed rates: feasible options for intermediate exchange rate regimes

Willett, Thomas D. - 2002

The criteria of the theory of optimum currency areas suggest that many (most?) countries are not good candidates for … setting monetary policy. It is argued that OCA theory provides the framework for determining the appropriate weights and …

Persistent link: https://www.econbiz.de/10010271993