Search results for "Monetary union"

The Case of “EMU-Outsiders”: Economic and Political Considerations

2016

Our paper discusses the option of three EU countries – United Kingdom, Sweden and Denmark – of not joining the EMU and analyses whether besides their subjective option of staying out of the EMU there is also an economic reason behind this decision, based on existing literature in the field. The three “EMU-outsiders” are different in terms of economic power, financial market attributes, monetary policy rules employed and political decisions. In each case, the choice to remain outside EMU was based on economic reasons, as well as political and sometimes nationalist arguments. Of the three countries under scrutiny, Denmark is by far the one which has the best prospects of joining EMU, given it…

The Effect of EMU on Tourism

2007

Abstract This paper estimates the effect of the euro on intra-EMU tourist flows by using a panel dataset of 20 OECD countries over the period 1995–2002. The results reveal that the euro has increased tourism, with an effect of around 6.5%. This is a noticeable impact given the early stage of the EMU analyzed. The robustness checks show that the evidence of a positive impact is quite widespread across EMU destinationcountries. 1. Introduction The aim of this paper is to analyze the impact of the euro on tourism among the 12members of the Economic and Monetary Union (EMU) in Europe. One of theexpected effects of the creation of the single European currency was the increase in trade of goods an…

The role of the economic crisis on the competitiveness of the agri-food sector in the main Mediterranean countries

2014

Th e world economic crisis that, since 2008 has also struck the real economy, cannot be attributed only to the United States bubble which in 2007 involved the mortgage credit market, but it is the result of a series of factors among which the imbalance of the fi nancial market, of the public accounts of the main economies and the real sector. Also agricul- ture, which has always been considered an anti-cyclic sector, has seen a strong slowdown with a plunge in the trade fl ows. Th is paper analyses the changes which happened to the competitive position in the world market of some Mediterranean countries and of France, Italy, Spain and Turkey in particular trying, moreover, to understand the…

Explaining attitudes towards the euro: Design of a cross-national study

1998

AbstractThe aim of this paper is to provide essential background material relating to the accom-panying papers in this special issue. It presents a brief description of the ‘Psychology of theEuropean Monetary Union’ project. This involved a questionnaire study of attitudes towardsthe euro, which was fielded in each of the 15 member states of the European Union in thesummer of 1997. We describe the development of the common survey instrument, and outlinethe rationale and methods pursued in sampling particular conceptual domains. The paper alsodetails the sampling procedures used in each country, together with the response rates andsample sizes attained. Finally, it o•ers a brief cross-nationa…

Export market integration in the European Union

2004

This paper examines the degree and recent evolution (1988-2001) of export-price dispersion among European Union countries. It also explores the effect of exchange rates on exportprice dispersion by reviewing the experience of some European countries that participated in the exchange rate stability zone. The results indicate that export-price dispersion across European Union countries was usually lower than across OECD countries. Moreover, although there is little evidence of convergence, this is stronger across European Union countries. Finally, even though price dispersion was often lower across European Union countries where exchange rates have been relatively stable than across countries…

Essays on current account imbalances

2017

Global current account imbalances and intra-euro area imbalances have been at the forefront of academic and policy debates for the last ten years. This thesis examines the determinants of current account balances and external adjustment. It consists of an introduction and four empirical studies. This thesis highlights the importance of institutional factors such as differences in national cultures and cross-country differences in the coordination of wage bargaining on external balances. The first study investigates the effects of deep determinants on current account balances. The point estimates are economically and statistically significant, suggesting that countries populated by Roman Cat…

Currency unions and trade : what is the impact of the euro on trade in the euro area?

2012

The aim of this study is to estimate the effect of the euro on trade within the euro area. This has been a relevant question for European politicians ever since the launch of the common currency was agreed on in the Maastricht Treaty in 1992. To analyse the topic the gravity model of international trade augmented with several dummy variables is employed using panel data of 29 developed countries between 1995 and 2010. The estimated aggregate trade effect on the euro zone reaches 10 % in the most preferred regression and is comparable with earlier estimates. However, there is considerable variation in the results when different sample sizes are used. This could be a sign of omitted variable …

Analiza argumentów za i przeciwko uczestnictwu w unii monetarnej w świetle teorii optymalnych obszarów walutowych

2015

EUROsceptycyzm - propozycja konceptualizacji

2015

Autorzy niniejszego tekstu stawiają sobie za cel doprecyzowanie kategorii EUROsceptycyzmu. Artykuł rozpoczyna przegląd literatury w zakresie szerszej koncepcji eurosceptycyzmu, aby następnie pozycjonować w tym kontekście poglądy sceptyczne wobec unii walutowej w Europie. Punkt ciężkości opracowania kładzie się na przedmiotowym zakresie pojęcia EUROsceptycyzmu. Autorzy wskazują wymieniane w literaturze czynniki warunkujące zjawisko EUROsceptycyzmu, grupując je w trzy zestawy determinant. Do nich, jako ważną zmienną warunkującą narastanie EUROsceptycyzmu, dodają kryzys gospodarczy (2007–2014). Rozważania kończy podsumowanie wskazujące na obecny poziom EUROsceptycyzmu w Unii Europejskiej i pra…