IDEAS home Printed from https://ideas.repec.org/p/kul/kulwps/ces0111.html
   My bibliography  Save this paper

Monetary Policies in an Enlarged Euroland

Author

Listed:
  • Filipa Correia

    (K.U.Leuven, C.E.S., International Economics)

Abstract

This paper analyses the effects of enlarging the initial Euroland of eleven members to one including all the fifteen member states of the European Union. The analysis is done in terms of consequences in the decision-making process and in welfare. In the framework of the model developed by Rudebush and Svensson (1998), and defining two decision rules and two benchmark cases, we find that the addition of the four outsiders does not reduce significantly the strategic position of the ECB-Board in deciding upon monetary policy issues in Euroland. Furthermore, Denmark, Greece and Sweden gain welfare when they enter the Eurosystem, while the UK loses welfare in EMU. The welfare of initial member countries is not much affected by the enlargement, although a majority of them experience slight welfare gains.

Suggested Citation

  • Filipa Correia, "undated". "Monetary Policies in an Enlarged Euroland," International Economics Working Papers Series ces0111, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, International Economics.
    • Handle: RePEc:kul:kulwps:ces0111
    as

    Download full text from publisher

    File URL: http://www.econ.kuleuven.ac.be/ew/admin/Publications/Dps0111.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Monetary policy; Euroland; ECB;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kul:kulwps:ces0111. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jan Van Hove (email available below). General contact details of provider: https://edirc.repec.org/data/cekulbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.