Euro Adoption Amid Reshaping EMU: The Case of Romania
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, F15working papers series
Date posted: November 3, 2011
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