Monetary union and social Europe
In: Journal of European social policy, Band 8, Heft 2
ISSN: 0958-9287
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In: Journal of European social policy, Band 8, Heft 2
ISSN: 0958-9287
In: Discussion paper series 3679
In: International macroeconomics
Results from cointegration and error-correction models for testing the effects of currency substitution in Greece, Portugal and Spain, in light of their upcoming participation in the European Monetary Union, revealed no significant short- or long-run currency substitution behavior in any country, suggesting that joining the union now would offer them no real benefits, unless significant economic convergence is achieved.
BASE
In: Africa research bulletin. Economic, financial and technical series, Band 44, Heft 8
ISSN: 1467-6346
In: Swiss political science review: SPSR = Schweizerische Zeitschrift für Politikwissenschaft : SZPW = Revue suisse de science politique : RSSP, Band 3, Heft 1, S. 1-19
ISSN: 1662-6370
In: Common Market Law Review, Band 8, Heft 2, S. 206-212
ISSN: 0165-0750
The monetary union is an open economy with perfect capital mobility. It consists of two identical countries, say Germany and France. A fiscal expansion in Germany causes an appreciation of the euro. This in turn lowers both German and French exports. The net effect is that German income goes up. On the other hand, French income goes down. And what is more, union income does not change. An increase in German government purchases of 100 produces an increase in German income of 74 and a decline in French income of equally 74. What is needed, therefore, is a mix of monetary and fiscal policy.
BASE
In: Journal of monetary economics, Band 139, S. 21-40
World Affairs Online
In: Occasional paper / Centre for Economic Policy Research, 2
World Affairs Online
In: Journal of international economics, Band 142, S. 103751
ISSN: 0022-1996