› › The Implications Of The Introduction Of The Euro For Non European Countries

The Implications of the Introduction of the Euro for Non-EU Countries

Author : Peter Bekx

Publisher :

Page : 50 pages

File Size : 42,61 MB

Release : 1998

Category : European Union countries

ISBN :

Get eBook

Book Description

La introduccion del euro sera un acontecimiento importante en el sistema monetario internacional. El objeto de este trabajo es examinar sus implicaciones en paises terceros mediante el analisis de los distintos canales de transmision a traves de los cuales la UEM afectara a los paises terceros. Comienza con los mecanismos de transmision del comercio internacional: el impacto de un mayor crecimiento en el area del euro, los efectos desbordamiento de la mayor sincronizacion de los ciclos en la UE, y el uso del euro en la facturacion. Continua con los cambios que afectaran a los mercados financieros: los relacionados con el euro como vehiculo de monetario en los mercados de divisas, su uso en las carteras privadas y su papel en los prestamos internacionales. La ultima parte trata el uso oficial del euro. Sus implicaciones para la politica de cambios de los paises no comunitarios y para la gestion de sus reservas. (pgp).





Euro Papers

Author : Peter Bekx

Publisher :

Page : 32 pages

File Size : 10,77 MB

Release : 1998

Category :

ISBN :

Get eBook

Book Description



Price Impacts of Non-Adoption of the Euro for Small European Countries

Author : Sibel Yelten

Publisher : International Monetary Fund

Page : 26 pages

File Size : 16,43 MB

Release : 2006-06

Category : Business & Economics

ISBN :

Get eBook

Book Description

Debates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a common currency is the maintenance of the status quo. This paper uses the Sjaastad model to analyze the price-making power of major currencies with regard to the prices of traded goods in small countries that have not adopted the euro and uses the Bayoumi-Eichengreen OCA index methodology to shed further light on changes in Europe. The empirical evidence suggests that small countries that have not adopted the euro have increasingly seen a change in the determinants of their traded goods prices. This seems to contrast with the experience of small countries that adopted the euro. The results need to be interpreted carefully, given the short time series.



The Euro

Author : Jesper Jespersen

Publisher : Springer

Page : 139 pages

File Size : 41,28 MB

Release : 2016-11-21

Category : Business & Economics

ISBN : 3319463888

Get eBook

Book Description

This book takes a close look at macroeconomic imbalances within the Eurozone and explores the profound consequences the introduction of the European Monetary Union (EMU) has had on Euro area countries. Particular attention is given to balance of payments deficits and surpluses, and the profound difficulties of rebalancing the Euro area. Throughout the chapters, the author argues that the EMU has failed to support an optimal currency area with the correct institutional arrangements due to misunderstandings at a macroeconomic level. The author also sheds light on the stability pact and the resulting macroeconomic trap which has left a number of Eurozone countries with devastatingly high rates of unemployment. The book argues that by disregarding important macroeconomic imbalances, Euro-monetarists have derailed the entire Eurozone project to such an extent that it is at risk of falling apart. Key chapters discuss the establishment of the EMU from a Euro-realist perspective and the role of the European Central Bank in rebalancing financial markets. The concluding chapter looks ahead to the future of the Euro and proposes necessary institutional solutions to the macroeconomic problems it is currently facing. Scholars and students with an interest in the current economic disarray within the Eurozone will find this work thought-provoking and highly informative.



Europe in 12 Lessons

Author : Pascal Fontaine

Publisher :

Page : 114 pages

File Size : 48,63 MB

Release : 2017

Category : Europe

ISBN : 9789279535901

Get eBook

Book Description



Economic Convergence in the Euro Area: Coming Together or Drifting Apart?

Author : Mr.Jeffrey R. Franks

Publisher : International Monetary Fund

Page : 47 pages

File Size : 48,98 MB

Release : 2018-01-23

Category : Business & Economics

ISBN : 1484338499

Get eBook

Book Description

We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.



After the Euro

Author : Colin Crouch

Publisher : OUP Oxford

Page : 304 pages

File Size : 38,32 MB

Release : 2000-03-09

Category : Business & Economics

ISBN : 0191522643

Get eBook

Book Description

Now that the process of full implementation of European Monetary Union has begun, it is time to shift attention away from the process of introduction to the implications that the common currency will have for a wide range of institutions and policy areas. The wider political and social institutions of the European Union are not well developed there is an institutional deficit which parallels the more widely know democratic deficit. Monetary arrangements of nation states are imbedded in a range of political, cultural, economic and historical factors. Will mechanisms of these kinds eventually develop at the European level? Can national structures adapt to meet the challenge? The contributors to After the Euro tackle these questions and in doing so, take the debate beyond the economic and sovereignty questions which have so far dominated the debate.



Europe and the Euro

Author : Alberto Alesina

Publisher : University of Chicago Press

Page : 476 pages

File Size : 19,89 MB

Release : 2010-04-01

Category : Business & Economics

ISBN : 9780226012834

Get eBook

Book Description

It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, Europe and the Euro looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks. This volume is an essential reference on the first ten years of the euro and the workings of a monetary union.



Introduction of the Euro in the Member States Not Yet Having Adopted the Common Currency

Author :

Publisher :

Page : pages

File Size : 11,13 MB

Release : 2019

Category :

ISBN : 9789276028031

Get eBook

Book Description

The Economic and Monetary Union (EMU) is the framework of economic policies covering the EU – including both eurozone and non-eurozone countries. The principal long-term aim of the EMU is the economic convergence for the EU over three successive stages. Once a country reaches the third stage it is permitted to adopt the euro as its official currency. The adoption of the euro is a requirement of EU membership, and all Member States must adopt the common currency once they have satisfied the necessary criteria defined in the Maastricht Treaty (with the exception of Denmark and the UK, which have an opt-out from these Treaty provisions). There is no fixed timetable for the introduction of the euro, but the Treaty does require countries to join the euro area at a certain point. The countries currently awaiting to adopt the common currency are Bulgaria, Croatia, Czechia, Hungary, Poland, Romania and Sweden. Of the countries that joined the EU in or after 2004, Slovenia, Cyprus and Malta joined the euro area in 2007 and 2008; Slovakia followed in January 2009; Estonia joined in January 2011; Latvia joined in 2014; and Lithuania adopted the currency on 1 January 2015. Having joined the European Union in 1995, at least nine years prior to the other countries in this survey, attitudes and opinions are occasionally quite different for Sweden. Therefore, the average that comprises all seven countries should be compared to previous editions of this study with caution. This survey is the 21st in a series which began in 2004 and has helped the European Commission to track opinion, levels of knowledge and familiarity with the single currency among citizens regarding the future introduction of the common currency in their country. The report looks at: - levels of knowledge about and experience of the euro among citizens in the seven countries covered by the survey; - citizens’ feelings about how well they have been informed about the euro and their preferred information channels for learning more about it; - citizens’ perceptions of, and support for, the single currency; - and their expectations about the adoption of the euro both for themselves and for their country, and any potential positive or negative consequences they imagine.