Exchange Rate Fluctuations, Trade and Asymmetric Shocks in the Economic and Monetary Union

2005 ◽  
Vol 8 (1) ◽  
pp. 119-137 ◽  
Author(s):  
Kh. Sekkat ◽  
J. Malek Mansour
Keyword(s):  
Exchange Rate ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
Exchange Rate Fluctuations ◽  
Asymmetric Shocks

ERM II

2020 ◽  
Author(s):  
Ulla Neergaard
Keyword(s):  
Exchange Rate ◽  
Monetary Union ◽  
Euro Area ◽  
Economic And Monetary Union ◽  
Convergence Criteria ◽  
Member States ◽  
The Third ◽  
Exchange Rate Mechanism ◽  
Third Phase ◽  
Rate Mechanism

From the very beginning, an essential cornerstone of the Economic and Monetary Union (EMU) has been the European Exchange Rate Mechanism II (ERM II). It has been in force since 1 January 1999, ie from the initiation of the third phase of the EMU. Its overall purpose is to link currencies of Member States outside the euro area to the euro. Its importance lies in the fact that aspiring Member States must first join the mechanism for at least two years before being admitted as members of the euro area, as ERM II ‘membership’ is one of the four convergence criteria, which are required to be fulfilled for a Member State’s eventual adoption of the euro.

Odd man out: rethinking British policy on European monetary integration

2003 ◽  
Vol 29 (3) ◽  
pp. 341-364 ◽  
Author(s):  
Mark Aspinwall
Keyword(s):  
Exchange Rate ◽  
Monetary Union ◽  
Alternative Explanation ◽  
Monetary Integration ◽  
Economic And Monetary Union ◽  
European Monetary ◽  
Economic Interests ◽  
Exchange Rate Mechanism ◽  
Opt Out ◽  
Rate Mechanism

This article examines British preferences on European monetary integration. It challenges dominant theories of preference formation, suggesting an alternative explanation focusing on governmental majority. Empirical evidence is presented on both UK economic behaviour and the views of domestic economic interests, as well as government majority. The article also analyses first and second-hand accounts of the main players involved in three cases: the decision not to join the Exchange Rate Mechanism in 1979, the decision to join the ERM in 1990, and the decision to opt out of stage 3 of Economic and Monetary Union.

No, No, No

2020 ◽  
pp. 171-200
Author(s):  
Stephen Wall
Keyword(s):  
Exchange Rate ◽  
Monetary Union ◽  
Agricultural Policy ◽  
Common Agricultural Policy ◽  
Economic Liberalization ◽  
Economic And Monetary Union ◽  
Single Currency ◽  
Exchange Rate Mechanism ◽  
The Common ◽  
Rate Mechanism

Thatcher got less money back from her EEC partners than she had argued for but secured a lasting deal to replace endless yearly battles for refunds. Arguments over reform of the Common Agricultural Policy (CAP) continued. Thatcher championed economic liberalization in Europe, but was opposed to the Treaty changes needed to bring it about. She compromised and got most of what she wanted, at the price of accepting that economic and monetary union (a single currency) would be pursued. Her attempt at a closer relationship with Kohl and Mitterrand was rebuffed. The Bruges speech created shockwaves around Europe. Thatcher and Howe (Foreign Secretary until 1989) were at odds over Europe. He helped force her to agree to join the Exchange Rate Mechanism (ERM). Her stridency provoked his resignation from government and her downfall. Her policies and legacy tend to be caricatured.

Book Reviews

2006 ◽  
Vol 56 (4) ◽  
pp. 455-468
Author(s):  
Zoltán Ádám ◽  
László Csaba ◽  
András Bakács ◽  
Zoltán Pogátsa
Keyword(s):  
Developing Countries ◽  
Fiscal Policy ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
European Studies ◽  
Eu Accession ◽  
East European ◽  
The World ◽  
The Government

István Csillag - Péter Mihályi: Kettős kötés: A stabilizáció és a reformok 18 hónapja [Double Bandage: The 18 Months of Stabilisation and Reforms] (Budapest: Globális Tudás Alapítvány, 2006, 144 pp.) Reviewed by Zoltán Ádám; Marco Buti - Daniele Franco: Fiscal Policy in Economic and Monetary Union. Theory, Evidence and Institutions (Cheltenham/UK - Northampton/MA/USA: Edward Elgar Publishing Co., 2005, 320 pp.) Reviewed by László Csaba; Piotr Jaworski - Tomasz Mickiewicz (eds): Polish EU Accession in Comparative Perspective: Macroeconomics, Finance and the Government (School of Slavonic and East European Studies, University College of London, 2006, 171 pp.) Reviewed by András Bakács; Is FDI Based R&D Really Growing in Developing Countries? The World Investment Report 2005. Reviewed by Zoltán Pogátsa

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