On the impact of the launch of the euro on EMU macroeconomic vulnerability - Archive ouverte HAL Accéder directement au contenu
Pré-Publication, Document De Travail Année : 2018

On the impact of the launch of the euro on EMU macroeconomic vulnerability

Florian Morvillier
  • Fonction : Auteur
  • PersonId : 1029923

Résumé

This paper aims at investigating the role played by the euro’s inception on external imbalances and macroeconomic vulnerability of the eurozone. To this end, we estimate a panel VAR model over the pre-euro (1980-1998) and EMU (1999-2016) periods for eleven eurozone members. Our findings show that with the adoption of the single currency, current account vulnerability to demand and currency misalignments shocks increases significantly. The correction of external imbalances within the euro area also becomes more difficult because of the disparition of a slow-growth process and devaluations as adjustment tools.
Fichier principal
Vignette du fichier
WP_EcoX_2018-51.pdf (1.74 Mo) Télécharger le fichier
Origine Fichiers produits par l'(les) auteur(s)

Dates et versions

hal-04141675 , version 1 (26-06-2023)

Identifiants

  • HAL Id : hal-04141675 , version 1

Citer

Florian Morvillier. On the impact of the launch of the euro on EMU macroeconomic vulnerability. 2018. ⟨hal-04141675⟩
8 Consultations
10 Téléchargements

Partager

Gmail Mastodon Facebook X LinkedIn More