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From the ERM to the euro: new evidence on economic and policy convergence among EU countries

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  • Angeloni, Ignazio
  • Dedola, Luca

Abstract

Skeptic views on EMU are usually cast around three arguments. First, the EU does not satisfy 'Optimum Currency Area' (OCA) conditions. Second, heterogeneous economic and financial structures will produce differences in monetary transmission. Third, the shift from domestic to area-wide considerations may give rise to conflicts in the decision making of the European Central Bank (ECB). JEL Classification: E52, F02, E32

Suggested Citation

  • Angeloni, Ignazio & Dedola, Luca, 1999. "From the ERM to the euro: new evidence on economic and policy convergence among EU countries," Working Paper Series 4, European Central Bank.
    • Handle: RePEc:ecb:ecbwps:19994
    Note: 80922
    as

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    References listed on IDEAS

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    Keywords

    ;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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