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Convergence and Optimum Currency Area, as Advanced Economic Integration

Andrei, Liviu - 2014

In 1961, in the earlier stage of the European integration, professor Bela Balassa proposed a five successive phase model. Today, the half century experience on integration and corresponding literature issued lets us see rather two big phases (instead of five). The one would be the incipient...

Persistent link: https://www.econbiz.de/10013044730

Behavior of Retail Prices in Common Currency Areas : The Case of the Eurozone

Nikolsko‐Rzhevskyy, Alex - 2017

Does a common currency lead to price convergence? In this paper we both theoretically and empirically show that the effect of a common currency is ambiguous. First, we extend the Ganslandt and Maskus (2007) model of vertical pricing with parallel trade. Our innovation is to consider both...

Persistent link: https://www.econbiz.de/10012945118

Fiscal Rules, Financial Stability and Optimal Currency Areas

De Grauwe, Paul - 2015

In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co … conclude that the intense fiscal rules that have been introduced in the Eurozone after the emergence of the debt crisis reduced …

Persistent link: https://www.econbiz.de/10013020581

Monetary Integration in Europe : The European Monetary Union after the Financial Crisis

Tomann, Horst - 2017 - 2nd ed. 2017

This book provides a fully revised and up-to-date analysis of the Economic and Monetary Union (EMU). With four entirely new chapters on responses to the financial crisis and the debate on reform options, Tomann assesses the EMU in comparison with other currency regimes through the adoption of a...

Persistent link: https://www.econbiz.de/10012397441

Joint debt arrangements in EMU: from NextGenEU to Eurobonds

Spurga, Simonas Algirdas; Šreiberytė, Emilė - 2021

Persistent link: https://www.econbiz.de/10012520497

Bailouts, inflation, and risk-sharing in monetary unions

Greenblatt, Matthew - In: Atlantic economic journal : AEJ 48 (2020) 3, pp. 269-296

Persistent link: https://www.econbiz.de/10012308017

Toward a sustainable Eurozone

De Grauwe, Paul; Ji, Yuemei - In: Economic globalization and governance : essays in honor …, (pp. 121-138). 2021

We argue that the various proposals aimed at stabilizing the Eurozone using financial engineering do not eliminate the … amount of financial engineering can stabilize an otherwise unstable system. The real stabilization of the Eurozone entails … two mechanisms. The first is the willingness of the European Central Bank (ECB) to provide liquidity in the Eurozone …

Persistent link: https://www.econbiz.de/10012310791

Fiscal governance in the Euro area : what kind of union?

Hagen, Jürgen von - In: Economic globalization and governance : essays in honor …, (pp. 139-148). 2021

Political debates over the fiscal framework of the European Monetary Union have focused on two issues, dealing with asymmetric shocks and maintaining a high degree of fiscal discipline. After reviewing the development of the EMU fiscal framework, we argue that transfers dealing with asymmetric...

Persistent link: https://www.econbiz.de/10012310792

Two sides of the same union? : reviving the Optimum Currency Areas theory from the business cycle synchronisation perspective

Stiblarova, Lubica; Sinicakova, Marianna - In: Post-communist economies 32 (2020) 3, pp. 330-351

Persistent link: https://www.econbiz.de/10012206697

Monetary integration in Europe : the European Monetary Union after the financial crisis

Tomann, Horst - 2017 - [2nd edition]

Persistent link: https://www.econbiz.de/10011668762