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Theorie optimaler Währungsräume vor dem Hintergrund der EU-Erweiterung

In: List Forum Band 32

Author

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  • Heiko Peters

Abstract

The first step towards integration of the ten new member countries of the European Union was their accession. The second step will be their intregration into the European Monetary Union. Here, they have to give up their own monetary policy in favour of complying with the monetary policy of the European Central Bank. The exchange rate as a shock absorber is not available anymore. The expected costs of the accession to a monetary union are typically derived by optimum currency area theory. According to optimum currency area theory one can divide the new member countries into two groups. For the first group - Slovenia, Hungary, Czech Republic, Cyprus and Malta - the accession costs are lower than for the second group - Estonia, Latvia, Lithuania, Poland and Slovakia. So the accession of the second group should be postponed until a stronger economic adjustment toward the European Monetary Union is reached.(Original text only available in german language)

Suggested Citation

  • Heiko Peters, 2006. "Theorie optimaler Währungsräume vor dem Hintergrund der EU-Erweiterung," List Forum Chapter, in: List Gesellschaft e.V. (ed.), List Forum Band 32, edition 1, volume 3, chapter 12, pages 214-238, List Gesellschaft e.V..
    • Handle: RePEc:lst:lfchap:32-12
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    Cited by:

    1. Lenk, Thomas & Lück, Oliver, 2011. "Auswirkungen der Eurokrise auf Sachsen und allgemeine Implikationen der Krise," Arbeitspapiere des Lehrstuhls Finanzwissenschaft 43, University of Leipzig, Institute of Public Finance and Public Management.
    2. Handler, Heinz, 2013. "The eurozone: piecemeal approach to an optimum currency area," MPRA Paper 67183, University Library of Munich, Germany.
    3. Wolf, Marvin, 2013. "Währungsunionen und Allmendeproblem," Hannover Economic Papers (HEP) dp-521, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    4. Naib ALAKBAROV & Utku UTKULU, 2020. "Asymmetries and Macroeconomic Shocks: The Pre-Crisis Period and Evidence for Europe," Sosyoekonomi Journal, Sosyoekonomi Society, issue 28(44).

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