Regional characteristics, monetary union and regional income volatility
Relatively little attention has been paid to the issue of how individual regions will fare as a consequence of the national decision on whether or not to adopt the single European currency. Regional welfare is influenced by both mean income and volatility. The present paper focuses on volatility. We develop a model of a regionally-integrated macroeconomy to explore how the income variance implied by the national decision on EMU is distributed across a country's regions. The model suggests that weaker regions are likely to do better than stronger regions with respect to volatility if the national economy participates in EMU.
|Date of creation:||May 2001|
|Date of revision:|
|Contact details of provider:|| Postal: UCD, Belfield, Dublin 4|
Fax: +353-1-283 0068
Web page: http://www.ucd.ie/economics
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bayoumi, Tamim & Masson, Paul R., 1995.
"Fiscal flows in the United States and Canada: Lessons for monetary union in Europe,"
European Economic Review,
Elsevier, vol. 39(2), pages 253-274, February.
- Bayoumi, Tamim & Masson, Paul R, 1994. "Fiscal Flows in the United States and Canada: Lessons for Monetary Union in Europe," CEPR Discussion Papers 1057, C.E.P.R. Discussion Papers.
- Baker, Terence J. & FitzGerald, John & Honohan, Patrick, 1996. "Economic Implications for Ireland of EMU," Research Series, Economic and Social Research Institute (ESRI), number PRS28.
- Barry, Frank, 1998. "Exchange Rate Policy When the Labour Market Exhibits Hysteresis," The Manchester School of Economic & Social Studies, University of Manchester, vol. 66(5), pages 532-49, December.
- Sibert, Anne, 1999. "Monetary Integration and Economic Reform," Economic Journal, Royal Economic Society, vol. 109(452), pages 78-92, January.
- Rose, Andrew K, 1999.
"One Money, One Market: Estimating the Effect of Common Currencies on Trade,"
CEPR Discussion Papers
2329, C.E.P.R. Discussion Papers.
- Rose, Andrew, 1999. "One Money, One Market: Estimating the Effect of Common Currencies on Trade," Seminar Papers 678, Stockholm University, Institute for International Economic Studies.
- Andrew K. Rose, 1999. "One Money, One Market: Estimating the Effect of Common Currencies on Trade," NBER Working Papers 7432, National Bureau of Economic Research, Inc.
- Artis, Michael J & Zhang, Wenda, 1995.
"International Business Cycles and the ERM: Is there a European Business Cycle?,"
CEPR Discussion Papers
1191, C.E.P.R. Discussion Papers.
- Artis, Michael J & Zhang, W, 1997. "International Business Cycles and the ERM: Is There a European Business Cycle?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 2(1), pages 1-16, January.
- Leonardo Bartolini, 1993. "Devaluation and Competitiveness in a Small Open Economy; Ireland 1987-1993," IMF Working Papers 93/82, International Monetary Fund.
- K.H. Midelfart & H.G. Overman & S.J. Redding & A.J. Venables, 2000. "The location of European industry," European Economy - Economic Papers 2008 - 2015 142, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Pavelin, S., 2000. "The Geographical Diversification of Leading Firm in the EU," Papers 00/15, College Dublin, Department of Political Economy-.
When requesting a correction, please mention this item's handle: RePEc:ucn:wpaper:200111. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Nicolas Clifton)
If references are entirely missing, you can add them using this form.