Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40260
Authors: 
Frenkel, Michael
Nickel, Christiane
Schmidt, Günter
Year of Publication: 
1999
Series/Report no.: 
Research notes in economics & statistics 99-4
Abstract: 
This paper uses a structural vector autoregression to examine differences in demand and supply shocks and the response to these shocks between EMU member countries and three other groups of countries. The first group includes non-EMU EU countries, the second group EFTA countries and the third group central and eastern European countries which seek EU membership over the next years. Our results suggest that, so far, EMU enlargement towards central and eastern European countries would involve significantly higher costs than EMU enlargement towards countries of the other two groups.
Subjects: 
European Monetary Integration
International Monetary Arrangements and Institutions
JEL: 
F33
Document Type: 
Working Paper

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