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For hundreds of years, European states have waged war with one another. Only since the XIX century, more than 40 wars (including 3 global wars) have devastated the continent and decimated its population. The European Union has provided the longest period of peace and prosperity that the citizens...
Persistent link: https://www.econbiz.de/10013072425
The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and optimality in comparison with a reference group of the...
Persistent link: https://www.econbiz.de/10012942397
recommendations both for new member states (on how to manage their accession to the Eurozone) and for the European Commission, ECB and … current Eurozone members, and should further improve before Eurozone entry, decreasing risk of their exposure to idiosyncratic … credibility of the Euro and price stability in the Eurozone will not be threatened by fast EMU Enlargement. Neither can the …
Persistent link: https://www.econbiz.de/10014212729
A floating exchange rate combined with a clear inflation target can be a powerful stabilizer even if there are fluctuations in exchange rates that are unrelated to current fundamentals. Under plausible conditions, most of the stabilisation will occur through the exchange rate, and fundamental...
Persistent link: https://www.econbiz.de/10014074070
The paper analyzes the convergence of inflation rates in the group of more developed members of the Eurozone (core …
Persistent link: https://www.econbiz.de/10014281769
The first objective of this paper is to present theoretical approaches to the impact of trade growth (induced by monetary integration) on business cycle synchronization which is an important factor of a country's readiness for a currency union accession. The main conclusion from the first part...
Persistent link: https://www.econbiz.de/10012026961
Persistent link: https://www.econbiz.de/10014519785
monetary unions. On specific points, a comparison is made between the eurozone and the CFA zone. The article then investigates …
Persistent link: https://www.econbiz.de/10012288194
The CFA franc devaluation on 11 January 1994 stands out as the most significant reform within the Franc Zone system since political independences of former African French colonies in 1960, yet a topic shrouded into profound taboo. So far, the economic literature has failed to draw any connection...
Persistent link: https://www.econbiz.de/10014480992
Persistent link: https://www.econbiz.de/10010520060