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Acceding Countries: The Road to the Euro

Author

Listed:
  • Lars Calmfors
  • Giancarlo Corsetti
  • Seppo Honkapohja
  • John Kay
  • Willi Leibfritz
  • Gilles Saint-Paul
  • Hans-Werner Sinn
  • Xavier Vives

Abstract

This chapter discusses the challenge to macroeconomic stabilisation in the ten new members of the EU during the convergence process posed by liberalised capital markets.The focus is on financial and currency fragility created by dangerously high volatility of capital flows and possible policies to reduce macroeconomic vulnerability to a crisis.

Suggested Citation

  • Lars Calmfors & Giancarlo Corsetti & Seppo Honkapohja & John Kay & Willi Leibfritz & Gilles Saint-Paul & Hans-Werner Sinn & Xavier Vives, 2004. "Acceding Countries: The Road to the Euro," EEAG Report on the European Economy, CESifo, vol. 0, pages 119-136, October.
    • Handle: RePEc:ces:eeagre:v::y:2004:i::p:119-136
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    References listed on IDEAS

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