IDEAS home Printed from https://ideas.repec.org/a/bla/jcmkts/v38y2000i4p625-644.html
   My bibliography  Save this article

Choosing the Regime: Macroeconomic Effects of UK Entry into EMU

Author

Listed:
  • Ray Barrell
  • Karen Dury

Abstract

The UK's decision on EMU membership depends in part on its effects on the economy. The UK targets inflation, and this involves some ‘price level drift’, whilst the ECB emphasizes price stability and would plan to reverse the drift in the price level caused by external shocks such as an increase in the oil price. We discuss the foundations of the ECB policy in German Ordoliberalism. The regimes are then compared over the future using a large macro model (NiGEM) which includes descriptions of all the European economies. It is repeatedly subject to historically representative shocks. The effects of these shocks are compared with the UK in and out of EMU.

Suggested Citation

  • Ray Barrell & Karen Dury, 2000. "Choosing the Regime: Macroeconomic Effects of UK Entry into EMU," Journal of Common Market Studies, Wiley Blackwell, vol. 38(4), pages 625-644, November.
    • Handle: RePEc:bla:jcmkts:v:38:y:2000:i:4:p:625-644
    DOI: 10.1111/1468-5965.00257
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-5965.00257
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1468-5965.00257?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Patrick Minford & David Meenagh & Bruce Webb, 2004. "Britain and EMU: Assessing the Costs in Macroeconomic Variability," The World Economy, Wiley Blackwell, vol. 27(3), pages 301-358, March.
    2. Patrick Minford, 2008. "Why the United Kingdom Should Not Join the Eurozone," International Finance, Wiley Blackwell, vol. 11(3), pages 283-295, December.
    3. Andrew Hughes Hallett, 2005. "Political Devolution without Fiscal Devolution," Vanderbilt University Department of Economics Working Papers 0505, Vanderbilt University Department of Economics.
    4. Patrick Minford, 2004. "Britain, the Euro, and the Five Tests," Cato Journal, Cato Journal, Cato Institute, vol. 24(1-2), pages 75-87, Spring/Su.
    5. Barrell, Ray & Byrne, Joseph P. & Dury, Karen, 2003. "The implications of diversity in consumption behaviour for the choice of monetary policy rules in Europe," Economic Modelling, Elsevier, vol. 20(2), pages 275-299, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jcmkts:v:38:y:2000:i:4:p:625-644. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-9886 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.