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Who Gains (relatively) from Monetary Union? An Estimate of Relative Net Benefits For EU 15 Member States

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  • Porojan, A-M.

Abstract

The paper adresses the issue of the distrbution by country of the costs and benefits associated to the introduction of a single currency in Europe, by estimating the relative costs and benefits of the 15 member state through the use of exploratory multivariate statistical techniques. Our results indicate an uneven distribution of the potential relative costs and benefits across the EU member states. Moreover, we find that not all the characteristics identified as relevant by the optimum currency area literature are equally important in shaping the net outcome of the move to the single currency.

Suggested Citation

  • Porojan, A-M., 1997. "Who Gains (relatively) from Monetary Union? An Estimate of Relative Net Benefits For EU 15 Member States," Discussion Papers 9713, Exeter University, Department of Economics.
  • Handle: RePEc:exe:wpaper:9713
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    Keywords

    MONETARY POLICY ; BANKS ; EUROPE;

    JEL classification:

    • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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