Search results for ""author jurgen von hagen""

The ten countries joining the EU in 2004 will soon be forced to focus on the next big challenge of integration: their adoption of the euro.In this book, well-known economists and policymakers look at the next step in the integration process for accession countries: accession to European Monetary Union (EMU). They debate which monetary and exchange rate strategies are optimal during the run-up to EMU, and consider the conflict that may arise in trying to meet both the exchange rate stability and the Maastricht inflation criteria. The impossible trinity between monetary independence, exchange rate stability and free capital flows is also addressed, as is the question of the effects of structural changes on the real exchange rate. Estimates of the 'Balassa-Samuelson effect' on five of the new member states, and the experiences of Portugal and Greece in their run-up to EMU are discussed, and lessons for the economic policies of the new EU member states are illustrated.The distinguished list of contributors have published extensively in the relevant fields making Monetary Strategies for Joining the Euro a must-read for policymakers and economists interested in European studies. It will also be welcomed by those with an interest in the process of European integration.

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What macroeconomic requirements must Turkey meet in its quest to accede to the European Union? This book, with its distinguished contributors - well-known economists and policymakers - examines and analyses these macroeconomic challenges confronting Turkey. Although the focus is on the specific situation of Turkey, the lessons are informative for other candidate countries and the findings directly relevant to the process of European integration.The book is divided into four parts: fiscal policies and sustainability of public finances monetary policy challenges preconditions for euro adoption sustainable regimes of capital movements. Each topic is studied in two consecutive papers, concentrating first on the challenges faced by the countries of the EU, and then by Turkey. Several papers review the experiences from the previous round of EU accession and the implications of these for Turkey.Macroeconomic Policies for EU Accession will appeal to policymakers, bureaucrats and academics interested in the macroeconomic problems of EU accession and European integration.

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