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Macroeconomic Effects of the Adoption of the Euro in Serbia

Author

Listed:
  • Reinhard Neck

    (Alpen-Adria-Universität Klagenfurt)

  • Klaus Weyerstrass

    (Institute for Advanced Studies)

Abstract

In 2009, Serbia applied officially for EU membership; in 2014, membership negotiations started. After joining the EU, Serbia will have to adopt the euro as legal tender as soon as it fulfils the relevant Maastricht criteria. By means of simulations with a macroeconometric model of the Serbian economy, we examine likely macroeconomic effects from Serbia?s membership of the EU and the Euro Area. We show that EU accession and the introduction of the euro bring about higher real GDP, more employment, and more sustainable public finances. The benefits of joining the Euro Area are mainly due to increases in productivity.

Suggested Citation

  • Reinhard Neck & Klaus Weyerstrass, 2018. "Macroeconomic Effects of the Adoption of the Euro in Serbia," Proceedings of International Academic Conferences 8110367, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:8110367
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    File URL: https://iises.net/proceedings/44th-international-academic-conference-vienna/table-of-content/detail?cid=81&iid=034&rid=10367
    File Function: First version, 2018
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    Citations

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    Cited by:

    1. Marjan Senjur, 2010. "Differential inflation, Phillips curves, and price competitiveness in a new euro-member country," Economic Change and Restructuring, Springer, vol. 43(4), pages 253-273, November.

    More about this item

    Keywords

    Serbia; EU; Euro Area; open economy macroeconomics; econometric model;
    All these keywords.

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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