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A Critical Analysis of EMU and of Sweden Joining It

In: The Price of the Euro

Author

Listed:
  • Roland Vaubel

Abstract

Sweden is not well suited to be a member of the European Monetary Union (EMU) because the relative price between Swedish goods and eurozone goods requires large adjustments. No current member of the eurozone faces a larger adjustment need than Sweden. Apparently, the Swedish pattern of production differs considerably from that of the eurozone. Swedish goods tend to become cheaper relative to eurozone goods on a long-term basis. Thus, if Sweden joins the euro-zone, Sweden will suffer from deflation when the rest of the eurozone enjoys price-level stability.

Suggested Citation

  • Roland Vaubel, 2004. "A Critical Analysis of EMU and of Sweden Joining It," Palgrave Macmillan Books, in: Jonas Ljungberg (ed.), The Price of the Euro, chapter 6, pages 87-95, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52380-7_6
    DOI: 10.1057/9780230523807_6
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    Cited by:

    1. J. James Reade & Ulrich Volz, 2009. "Too Much to Lose, or More to Gain? Should Sweden Join the Euro?," Economics Series Working Papers 442, University of Oxford, Department of Economics.

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