A Small Macroeconomic Model of the EU-Accession Countries
until further notice
SourceOpen Economies Review, 14, 3, (2003), pp. 221-250
Article / Letter to editor
Display more detailsDisplay less details
Economische theorie en economisch beleid
Open Economies Review
SubjectInstitutional Shifts in Government and Governance in a Comparative and International Context
This paper develops a small macro-economic model of the CEECs to analyze various aspects of integration with the current EU and the role of monetary and exchange rate strategies during the (pre-) accession phase. The model gives insight into both the adjustment of the internal balance (as for output and employment) and the external balance (as for exports and competitiveness) in the accession countries. The model provides more insight into the basic macroeconomic relationships governing macroeconomic adjustment in the accession countries and also the role of the integration with the EU in that adjustment. We perform empirical simulations of different scenarios and analyze the resulting macroeconomic adjustment. In particular, we compare how a macroeconomic shock in the current EU is transmitted to the accession countries under flexible and fixed euro exchange rates, respectively.
Upload full text
Use your RU credentials (u/z-number and password) tolog in with SURFconextto upload a file for processing by the repository team.