Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/2652
Authors: 
Schweickert, Rainer
Year of Publication: 
2001
Series/Report no.: 
Kiel Working Paper 1080
Abstract: 
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 four EMU-member countries Greece, Ireland, Portugal, and Spain. The general conclusion is that the demand of accession countries for entry into EMU can be supported by looking at the net benefits from monetary integration. The more serious problem is a lack of convergence which could imply serious risks during the transition towards monetary union.
Subjects: 
European Monetary Union
exchange rate anchor
convergence
optimum currency area
EU-enlargement
JEL: 
E42
F15
F41
Document Type: 
Working Paper

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