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Appréciations et conséquences possibles de l'hétérogénéité structurelle de la zone euro

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  • Alexis Penot

Abstract

[fre] Pour garantir son succès, le projet d’Union économique et monétaire s’est construit sur une convergence nominale entre les pays membres. Mais la convergence structurelle at-elle été atteinte ? Dans la mesure où c’est cette dernière qui garantira que la politique monétaire unique aura les mêmes conséquences pour tous les pays membres, c’est à cette question que tente de répondre cet article. Il montre dans une première partie que les preuves empiriques macroéconomiques sont incertaines et qu’un examen plus minutieux, en particulier sur les structures financières et sur le mode de formation des prix, sera nécessaire dans les deux parties suivantes. . Classification JEL : E5, E6, G1, G2 [eng] Assessment and consequences of the structural heterogeneity of the euro zone . To guarantee its success, the project of EMU was based on a nominal convergence between Member states. But was the structural convergence reached ? As far as this convergence will guarantee that the single monetary policy will have the same consequences for all the Member states, this article tries to answer this question. It shows in a first part that the macroeconomic empirical proofs are vague and that a more meticulous analyse, in particular on the financial structures, will be necessary in both following parts. . JEL classifications : E5, E6, G1, G2

Suggested Citation

  • Alexis Penot, 2002. "Appréciations et conséquences possibles de l'hétérogénéité structurelle de la zone euro," Revue d'Économie Financière, Programme National Persée, vol. 65(1), pages 153-175.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_2002_num_65_1_3772
    Note: DOI:10.3406/ecofi.2002.3772
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    References listed on IDEAS

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    Cited by:

    1. Oros, Cornel & Zimmer, Blandine, 2015. "Uncertainty and fiscal policy in a monetary union: Why does monetary policy transmission matter?," Economic Modelling, Elsevier, vol. 50(C), pages 85-93.
    2. Cornel Oros, 2009. "Economic Governance in an Asymmetric Monetary Union: A Fiscal Policy Game Analysis," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 39-60.
    3. BIKAI, J. Landry & KENKOUO, Guy Albert, 2015. "Analysis and evaluation of the Monetary Policy Transmission Channels in the CEMAC: A SVAR and SPVAR Approaches," MPRA Paper 78227, University Library of Munich, Germany.
    4. Séverine Menguy, 2005. "Hétérogénéité structurelle des pays membres et conflit dobjectifs entre les autorités économiques dans l'UEM," Économie et Prévision, Programme National Persée, vol. 169(3), pages 41-58.

    More about this item

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

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