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The U.K. Business Cycle, Monetary Policy, and EMU Entry

The U.K. Business Cycle, Monetary Policy, and EMU Entry »

Source: The U.K. Business Cycle, Monetary Policy, and EMU Entry

Volume/Issue: 2000/210

Series: IMF Working Papers

Author(s): Hossein Samiei , and Zenon Kontolemis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2000

ISBN: 9781451874792

Keywords: business cycles, EMU, inflation, monetary conditions, cointegration, correlation

In the context of the U.K. government’s EMU entry condition of cyclical convergence, this paper (i) provides further evidence suggesting that historically the U.K.’s business cycle has been more volat...

The Real Effects of Monetary Policy in the European Union

The Real Effects of Monetary Policy in the European Union »

Source: The Real Effects of Monetary Policy in the European Union : What Are the Differences?

Volume/Issue: 1997/160

Series: IMF Working Papers

Author(s): Ramana Ramaswamy , and Torsten Sloek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

ISBN: 9781451857719

Keywords: EMU, monetary transmission mechanism, monetary shock, monetary transmission, transmission of monetary policy

The main finding of this paper is that the European Union (EU) countries fall into two broad groups according to the effects of monetary policy adjustments on economic activity. Estimates based on a vector autoregr...

Playing by the Rules

Playing by the Rules »

Source: Playing by the Rules : Reforming Fiscal Governance in Europe

Volume/Issue: 2015/67

Series: IMF Working Papers

Author(s): Luc Eyraud , and Tao Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2015

ISBN: 9781484300282

Keywords: Fiscal Policy, Fiscal Rules, EMU, fiscal, governance, public debt, states, enforcement, General, Intergovernmental Relations,

The paper contributes to the discussions on fiscal governance in Europe. It takes stock of recent reforms, identifies areas for further progress, and discusses a menu of policy options for the medium-term. The issu...

The Suitability of ASEAN for a Regional Currency Arrangement1

The Suitability of ASEAN for a Regional Currency Arrangement1 »

Source: The Suitability of ASEAN for a Regional Currency Arrangement

Volume/Issue: 1999/162

Series: IMF Working Papers

Author(s): Paolo Mauro , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

ISBN: 9781451857856

Keywords: ASEAN, EMU, exchange rates, exchange rate, regional trade, exchange rate variability, economic integration

This paper examines the costs, benefits, preconditions, and implications of an Association of Southeast Asian Nations (ASEAN) regional currency arrangement that is assumed to culminate in a regional currency. On ec...

Exchange Rate Fluctuations and Trade Flows

Exchange Rate Fluctuations and Trade Flows »

Source: Exchange Rate Fluctuations and Trade Flows : Evidence From the European Union

Volume/Issue: 1998/107

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1998

ISBN: 9781451852950

Keywords: Exchange Rate, Volatility, Bilateral Trade, EMU, exchange rate volatility, exchange rate uncertainty, international trade, trade flows

This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model and panel data from western Europe, exchange rate uncertainty is found to have a negative effect...

EMU, Adjustment, and Exchange Rate Variability1

EMU, Adjustment, and Exchange Rate Variability1 »

Source: EMU, Adjustment, and Exchange Rate Variability

Volume/Issue: 1998/50

Series: IMF Working Papers

Author(s): Luca Ricci , and Peter Isard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1998

ISBN: 9781451846942

Keywords: EMU, Exchange rate variability, exchange rate, monetary union, exchange rates, monetary policy

This paper uses a three-country, three-good, factor-specific model of trade with wage rigidities to investigate how European Monetary Union (EMU) is likely to affect exchange rate variability. Focusing on internati...

European Monetary Union and International Capital Markets

European Monetary Union and International Capital Markets »

Source: European Monetary Union and International Capital Markets : Structural Implications and Risks

Volume/Issue: 1997/62

Series: IMF Working Papers

Author(s): Garry Schinasi , and Alessandro Prati

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1997

ISBN: 9781451848250

Keywords: Euro, EMU, Capital Flows, bond, international capital markets, international capital, securities markets

This paper analyzes the structural implications of EMU for international capital markets. It discusses the potential size of euro capital markets and the existing roles of European currencies in international capit...

Money Demand in the Euro Area

Money Demand in the Euro Area »

Source: Money Demand in the Euro Area : Where Do We Stand (Today)?

Volume/Issue: 2002/185

Series: IMF Working Papers

Author(s): Zenon Kontolemis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2002

ISBN: 9781451859423

Keywords: EMU, Taylor Rule, Cointegration, inflation, equation, equations, Multiple or Simultaneous Equation Models: Time-Series Models,

The paper reviews the stability of long-run money demand in the euro area in the light of recent revisions to M3 data. The analysis confirms the existence of a stable long-run money demand, although the estimated e...

Selected Transition and Mediterranean Countries

Selected Transition and Mediterranean Countries »

Source: Selected Transition and Mediterranean Countries : An Institutional Primer on EMU and EU Relations

Volume/Issue: 1998/82

Series: IMF Working Papers

Author(s): Robert Feldman , and Heliodoro Temprano-Arroyo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1998

ISBN: 9781451850413

Keywords: EMU, EU, transition, central bank, government securities, inflation, monetary policy, monetary fund

Economic and Monetary Union (EMU) has a number of institutional implications for the transition countries of Central and Eastern Europe and selected Mediterranean countries that aspire to join the European Union (E...

Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union

Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union »

Source: Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union

Volume/Issue: 1997/178

Series: IMF Working Papers

Author(s): Paul Hilbers , Arto Kovanen , and Charles Enoch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

ISBN: 9781451858914

Keywords: Monetary Operations, EMU, credit, reserve requirements, monetary policy, collateral, european monetary institute

The European Monetary Institute has been working with national central banks of the European Union (EU) to prepare instruments for the operation of monetary policy in Stage 3 of European Economic and Monetary Union...