Comments on “Real Convergence and Euro Adoption in Central and Eastern Europe: Trade and Business Cycle Correlations as Endogenous Criteria for Joining the EMU,” by Jean-Philippe Cotis
Author:
Susan M Schadler
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Language:
English
Print Publication Date:
18 Apr 2005
Keywords:
SEM; euro; exchange rate; country; CEE country; ERM II; EMU economy; acceding country; ECB paper; Exchange rates; Inflation; Exchange rate arrangements; Monetary unions; Exchange rate stability; Central and Eastern Europe; Europe; Baltics; Western Europe; Global; EMU performance; EMU enlargement; EMU member; monetary policy response; Fiscal stance

Abstract

Let me say at the outset that I liked this paper a lot. It offers a comprehensive assessment of the empirical evidence on real cyclical convergence through the trade channel. It also provides a thought-provoking discussion on the optimal length of the transition to the euro.

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Cover Euro Adoption in Central and Eastern Europe
Euro Adoption in Central and Eastern Europe
Opportunities and Challenges
ISBN:
9781589063709
Publication Date:
18 Apr 2005
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063709.072
Pages:
214
Front Matter
I Introduction
Part I Real Convergence and Euro Adoption
Part II Role of Monetary Independence in the Accession Countries
Part III Preconditions for Successful Euro Adoption: Fiscal Policy and Labor Markets
Part IV Preconditions for Successful Euro Adoption: Financial Markets and Macro Frameworks
Part V Strategies for Euro Adoption: Key Considerations
Back Matter

  • Nicoletti, G., S. Golub, D. Hajkova, D. Mirza, and K. Yoo, 2003, “Policies and International Integration: Influences on Trade and Foreign Direct Investment,” OECD Economics Department Working Paper, No.39 (Paris: Organisation for Economic Co-Operation and Development).

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  • OECD, 2003, The Sources of Economic Growth in OECD Countries (Paris: Organisation for Economic Co-Operation and Development).