Structural Reforms and the Enlargement of Monetary Union

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the monetary union will increase their reform efforts. The paper also derives the conditions under which countries agree to an enlargement of monetary union.

[1]  A. Alesina,et al.  ON THE FEASIBILITY OF A ONE-SPEED OR MULTISPEED EUROPEAN MONETARY UNION , 1993 .

[2]  P. O’brien,et al.  The Governance of Globalization: The Political Economy of Anglo-American Hegemony, 1793-2003 , 2003, SSRN Electronic Journal.

[3]  Kenneth Rogoff,et al.  The Optimal Degree of Commitment to an Intermediate Monetary Target''Quarterly Journal of Economics , 1985 .

[4]  R. Baldwin,et al.  The Costs and Benefits of Eastern Enlargement: The Impact on the EU and Central Europe , 1997 .

[5]  R. Beetsma,et al.  Structural Convergence Under Reversible and Irreversible Monetary Unification , 2003 .

[6]  Barry Eichengreen,et al.  Operationalizing the Theory of Optimum Currency Areas , 1998 .

[7]  A. Rose,et al.  The Endogeneity of the Optimum Currency Area Criteria , 1996 .

[8]  Volker Grossmann,et al.  Contest for Attention in a Quality-Ladder Model of Endogenous Growth , 2003, SSRN Electronic Journal.

[9]  Gilberto Turati,et al.  Bailing Out Expectations and Health Expenditure in Italy , 2003, SSRN Electronic Journal.

[10]  Sandro Brusco,et al.  On Enhanced Cooperation , 2003, SSRN Electronic Journal.

[11]  S. Islam,et al.  Health Adjusted GDP (Hagdp) Measures of the Relationship between Economic Growth, Health Outcomes and Social Welfare , 2003, SSRN Electronic Journal.

[12]  Annette Alstadsæter,et al.  Income Tax, Consumption Value of Education, and the Choice of Educational Type , 2003 .

[13]  M. Artis,et al.  Is There a European Business Cycle? , 2003, SSRN Electronic Journal.

[14]  Giovanni Peri,et al.  Skills Substitutability and Technological Progress: U.S. States 1950-1990 , 2003, SSRN Electronic Journal.

[15]  Peter Fredriksson,et al.  Optimal unemployment insurance design: Time limits, monitoring, or workfare? , 2003 .

[16]  Andreas Wagener,et al.  Profit tax competition and formula apportionment , 2003, Social Science Research Network.

[17]  D. Rodrik,et al.  Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty , 1991 .

[18]  Daniel Gros,et al.  Who Needs Foreign Banks? , 2003, SSRN Electronic Journal.

[19]  Carlos Fonseca Marinheiro,et al.  Output Smoothing in Emu and OECD: Can We Forego Government Contribution? A Risk Sharing Approach , 2003, SSRN Electronic Journal.

[20]  Philippe Martin.  Free-riding, convergence and two-speed monetary unification in Europe , 1995 .

[21]  Volker Grossmann,et al.  Firm Size and Diversification: Asymmetric Multiproduct Firms Under Cournot Competition , 2003, SSRN Electronic Journal.

[22]  F. Sturzenegger,et al.  Recurrent High Inflation and Stabilization: A Dynamic Game , 1996 .

[23]  Carlo Devillanova,et al.  Capital-Skill Complementarity and the Redistributive Effects of Social Security Reform , 2003, SSRN Electronic Journal.

[24]  Peter Birch Sørensen,et al.  Improving the Equity-Efficiency Trade-Off: Mandatory Savings Accounts for Social Insurance , 2003 .

[25]  A. Alesina,et al.  On the Feasibility of a One or Multi-Speed European Monetary Union , 1993 .

[26]  D. Snower,et al.  The Firm as a Pool of Factor Complementarities , 2003, SSRN Electronic Journal.

[27]  M. Grimaldi,et al.  Bubbling and Crashing Exchange Rates , 2003, SSRN Electronic Journal.

[28]  Olivier Bargain,et al.  Is the Collective Model of Labor Supply Useful for Tax Policy Analysis ? A Simulation Exercise , 2005 .

[29]  Lars Calmfors.  Unemployment, Labor Market Reform, and Monetary Union , 2001, Journal of Labor Economics.

[30]  Marco Runkel,et al.  Optimal Contest Design When the Designer's Payoff Depends on Competitive Balance , 2003, SSRN Electronic Journal.

[31]  Johan Willner,et al.  Privatisation and Public Ownership in Finland , 2003, SSRN Electronic Journal.

[32]  A. Belke,et al.  Exchange Rate Volatility and Employment Growth: Empirical Evidence from the CEE Economies , 2003, SSRN Electronic Journal.

[33]  L. Christofides,et al.  Contract Duration and Indexation in a Period of Real and Nominal Uncertainty , 2003, SSRN Electronic Journal.

[34]  Jerome L. Stein,et al.  Stochastic Optimal Control Modeling of Debt Crises , 2003, SSRN Electronic Journal.

[35]  Concepció Patxot,et al.  On the optimality of PAYG pension systems in an endogenous fertility setting , 2003, Journal of Pension Economics and Finance.

[36]  M. Gérard,et al.  Cross-Border Loss Offset and Formulary Apportionment: How Do They Affect Multijurisdictional Firm Investment Spending and Interjurisdictional Tax Competition? , 2003, SSRN Electronic Journal.

[37]  Kashif S. Mansori,et al.  Following in Their Footsteps: Comparing Interest Parity Conditions in Central European Economies to the Euro Countries , 2003, SSRN Electronic Journal.

[38]  R. Feldman,et al.  Selected transition and Mediterranean countries: an institutional primer on EMU and EU accession , 1999 .

[39]  W. Buiter,et al.  Anchor, Float or Abandon Ship: Exchange Rate Regimes for Accession Countries , 2002 .

[40]  Dan Anderberg.  Insiders, Outsiders, and the Underground Economy , 2003 .

[41]  J. Ylä-Liedenpohja,et al.  Taxation and Valuation of International Real Investments , 2003, SSRN Electronic Journal.

[42]  Helge Berger.  The ECB and Euro-Area Enlargement , 2002, SSRN Electronic Journal.

[43]  Maureen Were,et al.  An Assessment of the Impact of Hiv/Aids on Economic Growth: The Case of Kenya , 2003, SSRN Electronic Journal.

[44]  M. Burda.  The Consequences of EU Enlargement for Central and Eastern European Labour Markets , 1998 .

[45]  Donald Wittman,et al.  Litigation with Symmetric Bargaining and Two-Sided Incomplete Information , 2003, SSRN Electronic Journal.

[46]  L. Colombo,et al.  Fiscal Federalism and Endogenous Lobbies' Formation , 2003, SSRN Electronic Journal.

[47]  John Komlos,et al.  From the Tallest to (One of) the Fattest: The Enigmatic Fate of the American Population in the 20th Century , 2003, Economics and human biology.

[48]  Thomas Stratmann.  Contribution limits and the effectiveness of campaign spending , 2003 .

[49]  G. Calvo.  On Dollarization , 2002 .

[50]  B. Bhattacharyay.  Towards a Macro-Prudential Leading Indicators Framework for Monitoring Financial Vulnerability , 2003, SSRN Electronic Journal.

[51]  Lars Nesheim,et al.  Identification and Estimation of Hedonic Models , 2003, Journal of Political Economy.

[52]  P. Sørensen,et al.  Neutral Taxation of Shareholder Income: A Norwegian Tax Reform Proposal , 2003, SSRN Electronic Journal.

[53]  A. Bovenberg.  Tax Policy and Labor Market Performance , 2003, SSRN Electronic Journal.

[54]  Michele Moretto,et al.  Investment Size and Firm's Value Under Profit Sharing Regulation , 2003 .

[55]  J. Stephen Ferris,et al.  Searching for Keynes: With Application to Canada, 1870-2000 , 2003, SSRN Electronic Journal.

[56]  Bjorn Sandvik,et al.  Optimal Taxation and Normalisations , 2003, SSRN Electronic Journal.

[57]  Jan Svejnar.  Journal of Economic Perspectives—Volume 16, Number 1—Winter 2002—Pages 3–28 Transition Economies: Performance and Challenges , 2022 .

[58]  Michael Reiter,et al.  Business Cycles, Unemployment Insurance, and Calibration of Matching Models , 2003, SSRN Electronic Journal.

[59]  Carlos A. Végh,et al.  How Far is Eastern Europe from Brussels? , 1998, SSRN Electronic Journal.

[60]  J. Francois,et al.  The costs and benefits of Eastern enlargement , 1997 .

[61]  Burkhard Heer,et al.  Nonsuperneutrality of Money in the Sidrauski Model with Heterogenous Agents , 2003, SSRN Electronic Journal.

[62]  Til Schuermann,et al.  Macroeconomic Dynamics and Credit Risk: A Global Perspective , 2003, SSRN Electronic Journal.

[63]  James J. Heckman,et al.  Simulation and Estimation of Hedonic Models , 2003, SSRN Electronic Journal.

[64]  Horst Siebert,et al.  Labor Market Rigidities: At the Root of Unemployment in Europe , 1997 .

[65]  Patrizio Tirelli,et al.  A Simple and Flexible Alternative to the Stability and Growth Pact Deficit Ceilings: Is it at Hand? , 2003, SSRN Electronic Journal.

[66]  C. Hefeker,et al.  Federal Monetary Policy , 2001, SSRN Electronic Journal.

[67]  Roberta Dessi,et al.  Social Capital and Collusion: The Case of Merchant Guilds , 2003, SSRN Electronic Journal.

[68]  A. Sibert,et al.  Monetary Union, Entry Conditions and Economic Reform , 1997 .

[69]  Annette Alstadsæter,et al.  The Dual Income Tax and Firms' Income Shifting Through the Choice of Organizational Form and Real Capital Investments , 2003 .

[70]  D. Gros,et al.  European Monetary Integration , 1992 .

[71]  O. Straume,et al.  Good Jobs, Bad Jobs and Redistribution , 2003, SSRN Electronic Journal.

[72]  A. Sibert.  Monetary Integration and Economic Reform , 1999 .

[73]  J. Lind,et al.  Fractionalization and the Size of Government , 2003, SSRN Electronic Journal.

[74]  Stefan Napel,et al.  Bargaining and Distribution of Power in the Eu's Conciliation Committee , 2003, SSRN Electronic Journal.

[75]  Lars-Erik Borge,et al.  The Relationships between Costs and User Charges: The Case of a Norwegian Utility Service , 2003, SSRN Electronic Journal.

[76]  P. Lane.  Asymmetric Shocks and Monetary Policy in a Currency Union , 2000 .

[77]  R. Barro,et al.  A Positive Theory of Monetary Policy in a Natural Rate Model , 1981, Journal of Political Economy.

[78]  H. Ursprung,et al.  Voter Support for Privatizing Education: Evidence on Self-Interest and Ideology , 2003, SSRN Electronic Journal.

[79]  Dale J. Poirier,et al.  Relationship between Maternal Behavior During Pregnancy, Birth Outcome, and Early Childhood Development: An Exploratory Study , 2003 .

[80]  Christoph Borgmann,et al.  Demographics and Volatile Social Security Wealth: Political Risks of Benefit Rule Changes in Germany , 2003, SSRN Electronic Journal.

[81]  A. Ciccone,et al.  Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty: Comment , 2004 .

[82]  Namkee Ahn,et al.  Bio-Demographic and Health Aspects of Ageing in the EU , 2003, SSRN Electronic Journal.

[83]  Guttorm Schjelderup,et al.  To peg or not to peg?: A simple model of exchange rate regime choice in small economies , 2001 .

[84]  Kjetil Bjorvatn,et al.  Decentralization and the Fate of Minorities , 2003, SSRN Electronic Journal.

[85]  Paul R. Masson.  Monetary and Exchange Rate Policy of Transition Economies of Central and Eastern Europe after the Launch of EMU , 1999, IMF Policy Discussion Papers.

[86]  J. Fidrmuc,et al.  Similarity of Supply and Demand Shocks Between the Euro Area and the CEECs , 2001 .

[87]  R. Feldman,et al.  Selected Transition and Mediterranean Countries: An Institutional Primer on Emu and EU Relations , 1998, SSRN Electronic Journal.

[88]  Martin R. West,et al.  Which School Systems Sort Weaker Students into Smaller Classes? International Evidence , 2003 .

[89]  Gilles Saint-Paul,et al.  Exploring the Political Economy of Labour Market Institutions , 1996 .

[90]  Assaf Razin,et al.  Privatizing Social Security Under Balanced-Budget Constraints: A Political-Economy Approach , 2003, SSRN Electronic Journal.

[91]  A. Sibert,et al.  Monetary Regimes and Labour Market Reform , 1997 .