Euro Adoption Amid Reshaping EMU: The Case of Romania

Rozalia Pal

UniCredit Tiriac Bank

March 1, 2011

Adopting the European single currency is reevaluated amid changing environment of the existing euro area. In this paper we are mapping those divergences among member countries that challenge the optimal currency area (OCA), at least from a theoretical perspective. Nevertheless, the decision to join the European Monetary Union (EMU) should be based on balancing the advantages versus disadvantages. This paper focuses in particular on competitive advantages among member countries and factors that stay behind the accumulated imbalances and cross-country differences. Three alternative scenarios of EMU and of Romanian accession are also discussed.

Number of Pages in PDF File: 21

Keywords: Economic and Monetary Integration, EMU, Optimal Currency Area (OCA), International Policy Coordination, International competitiveness, Current Account Adjustment

JEL Classification: F42, F36, F32, F33, F15

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Date posted: November 3, 2011  

Suggested Citation

Pal, Rozalia, Euro Adoption Amid Reshaping EMU: The Case of Romania (March 1, 2011). Available at SSRN: http://ssrn.com/abstract=1953886 or http://dx.doi.org/10.2139/ssrn.1953886

Contact Information

Rozalia Pal (Contact Author)
UniCredit Tiriac Bank ( email )
Charles de Gaulle Square 15
Bucharest, 011857
HOME PAGE: http://www.unicredit-tiriac.ro/
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