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Determinants of Spain's decision to leave the European Monetary Union

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  • Antonio Estella

Abstract

Spain is the Member State of the European Union whose public opinion is most in favour to exit the Eurozone. In this context, there is a growing social and political debate on this Number in this Member State. This paper analyses at a theoretical level the main economic and socio political determinants that Spain would face if it were considering to take a decision to leave the EMU.

Suggested Citation

  • Antonio Estella, 2013. "Determinants of Spain's decision to leave the European Monetary Union," RSCAS Working Papers 2013/56, European University Institute.
    • Handle: RePEc:rsc:rsceui:2013/56
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    References listed on IDEAS

    as
    1. repec:ces:ifodic:v:9:y:2011:i:3:p:16750160 is not listed on IDEAS
    2. Alberto Alesina & Robert J. Barro, 2002. "Currency Unions," The Quarterly Journal of Economics, Oxford University Press, vol. 117(2), pages 409-436.
    3. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 1065-1188, November.
    4. Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
    5. Paul De Grauwe, 2011. "The European Central Bank: Lender of Last Resort in the Government Bond Markets?," CESifo Working Paper Series 3569, CESifo Group Munich.
    6. Eloísa Ortega & Juan Peñalosa, 2012. "The Spanish economic crisis: key factors and growth challenges in the euro area," Occasional Papers 1201, Banco de España;Occasional Papers Homepage.
    7. Robert Barro & Silvana Tenreyro, 2007. "Economic Effects Of Currency Unions," Economic Inquiry, Western Economic Association International, vol. 45(1), pages 1-23, January.
    8. Rose, Andrew, 2007. "Checking out: exits from currency unions," Journal of Financial Transformation, Capco Institute, vol. 19, pages 121-128.
    9. C. Randall HENNING & Martin KESSLER, 2012. "Fiscal Federalism: US History for Architects of Europe’s Fiscal Union," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 1-31.
    10. Ludger Schuknecht & Philippe Moutot & Philipp Rother & Jürgen Stark, 2011. "The Stability and Growth Pact: Crisis and Reform," CESifo DICE Report, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 9(3), pages 10-18, October.
    11. Vaugirard, Victor, 2007. "Bank bailouts and political instability," European Journal of Political Economy, Elsevier, vol. 23(4), pages 821-837, December.
    12. Jason Furman & Joseph E. Stiglitz, 1998. "Economic Crises: Evidence and Insights from East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 1-136.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Spain; Monetary;

    JEL classification:

    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K19 - Law and Economics - - Basic Areas of Law - - - Other
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • K49 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Other

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