메뉴 건너뛰기




Volumn 16, Issue 1 SPEC. ISS., 2005, Pages 7-33

European Monetary Union: Nominal convergence, real divergence and slow growth?

Author keywords

European Monetary Union; Macroeconomic policy mix; Nominal convergence; Real convergence

Indexed keywords

CONVERGENCE; CURRENCY MARKET; ECONOMIC INTEGRATION; EUROPEAN MONETARY UNION;

EID: 12144283075     PISSN: 0954349X     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0954-349X(03)00049-3     Document Type: Article
Times cited : (43)

References (60)
  • 2
    • 12144281463 scopus 로고    scopus 로고
    • The causes of euro instability
    • Edward Elgar, Cheltenham Arestis, P., Brown, A., Sawyer, M. (Eds.)
    • Arestis, P., et al., 2001a. The causes of euro instability, in: Arestis, P., Brown, A., Sawyer, M. (Eds.), The Euro. Evolution and Prospects. Edward Elgar, Cheltenham.
    • (2001) The Euro. Evolution and Prospects
    • Arestis, P.1
  • 3
    • 12144284719 scopus 로고    scopus 로고
    • The conditions surrounding the launch of the euro
    • Arestis, P., Brown, A., Sawyer, M. (Eds.) Edward Elgar, Cheltenham
    • Arestis, P., et al., 2001b. The conditions surrounding the launch of the euro, in: Arestis, P., Brown, A., Sawyer, M. (Eds.), The Euro. Evolution and Prospects. Edward Elgar, Cheltenham.
    • (2001) The Euro. Evolution and Prospects
    • Arestis, P.1
  • 4
    • 0001318724 scopus 로고    scopus 로고
    • An alternative stability pact for the European Union
    • Arestis P. et al. An alternative stability pact for the European Union Cambridge Journal of Economics 25 2001c 113-130
    • (2001) Cambridge Journal of Economics , vol.25 , pp. 113-130
    • Arestis, P.1
  • 7
    • 12144282864 scopus 로고    scopus 로고
    • The euro: A success against the odds?
    • Begg I.The euro: A success against the odds? Eastern Economic Journal 28 2002 25-44
    • (2002) Eastern Economic Journal , vol.28 , pp. 25-44
    • Begg, I.1
  • 8
    • 12144275144 scopus 로고    scopus 로고
    • Monitoring the European Central Bank 4: Surviving the Slowdown
    • Centre for Economic Policy Research, London
    • Begg, D., et al., 2002. Monitoring the European Central Bank 4: Surviving the Slowdown. Centre for Economic Policy Research, London.
    • (2002)
    • Begg, D.1
  • 9
    • 0002516839 scopus 로고
    • Inside the black box: The credit channel of monetary policy transmission
    • Bernanke B.Gertler M. Inside the black box: The credit channel of monetary policy transmission Journal of Economic Perspectives 9 1995 27-48
    • (1995) Journal of Economic Perspectives , vol.9 , pp. 27-48
    • Bernanke, B.1    Gertler, M.2
  • 10
    • 0001258568 scopus 로고
    • Unemployment and the real wage: The economic basis for contesting political ideologies
    • Bhaduri A.Marglin S.Unemployment and the real wage: The economic basis for contesting political ideologies Cambridge Journal of Economics 14 1990 375-393
    • (1990) Cambridge Journal of Economics , vol.14 , pp. 375-393
    • Bhaduri, A.1    Marglin, S.2
  • 12
    • 0036176466 scopus 로고    scopus 로고
    • The monetary policies of the European Central Bank and the euro's (mal-)performance: A stability oriented assessment
    • Bibow J.The monetary policies of the European Central Bank and the euro's (mal-)performance: A stability oriented assessment International Review of Applied Economics 16 2002 31-50
    • (2002) International Review of Applied Economics , vol.16 , pp. 31-50
    • Bibow, J.1
  • 13
    • 0004265267 scopus 로고    scopus 로고
    • Prentice Hall International, London third ed
    • Blanchard, O., 2003. Macroeconomics, third ed. Prentice Hall International, London.
    • (2003) Macroeconomics
    • Blanchard, O.1
  • 14
    • 1642301113 scopus 로고    scopus 로고
    • Improving the SGP through a Proper Accounting of Public Investment
    • Center for Economic Policy Research, European Economic Perspectives No. 3/2003. Researchers' Viewpoint Discussion Paper, February 2003, London
    • Blanchard, O., Giavazzi, F., 2003. Improving the SGP through a Proper Accounting of Public Investment. Center for Economic Policy Research, European Economic Perspectives No. 3/2003. Researchers' Viewpoint Discussion Paper, February 2003, London.
    • (2003)
    • Blanchard, O.1    Giavazzi, F.2
  • 15
    • 0011020867 scopus 로고    scopus 로고
    • Financial Structure and Monetary Transmission in Europe: A Cross-Country Study
    • Edward Elgar, Cheltenham
    • Bondt, G.J.d., 2000. Financial Structure and Monetary Transmission in Europe: A Cross-Country Study. Edward Elgar, Cheltenham.
    • (2000)
    • Bondt, G.J.D.1
  • 17
    • 0032455221 scopus 로고    scopus 로고
    • Macroeconomic policy, wage setting, and employment-what difference does the EMU make?
    • Calmfors L.Macroeconomic policy, wage setting, and employment-what difference does the EMU make? Oxford Review of Economic Policy 143 1998 125-151
    • (1998) Oxford Review of Economic Policy , vol.14 , Issue.3 , pp. 125-151
    • Calmfors, L.1
  • 18
    • 0035719247 scopus 로고    scopus 로고
    • Wages and wage-bargaining institutions in the EMU - A survey of the issues
    • Calmfors L.Wages and wage-bargaining institutions in the EMU-a survey of the issues Empirica 28 2001 325-351
    • (2001) Empirica , vol.28 , pp. 325-351
    • Calmfors, L.1
  • 19
    • 0002451697 scopus 로고
    • Distinguishing theories of the monetary transmission mechanism
    • Cecchetti S.G.Distinguishing theories of the monetary transmission mechanism Federal Reserve Bank of St. Louis Review 773 1995 83-97
    • (1995) Federal Reserve Bank of St. Louis Review , vol.77 , Issue.3 , pp. 83-97
    • Cecchetti, S.G.1
  • 20
    • 0000921849 scopus 로고    scopus 로고
    • Legal structure, financial structure, and the monetary policy transmission mechanism
    • Cecchetti S.G. Legal structure, financial structure, and the monetary policy transmission mechanism Federal Reserve Bank of New York Economic Policy Review 57 1999 9-28
    • (1999) Federal Reserve Bank of New York Economic Policy Review , vol.5 , Issue.7 , pp. 9-28
    • Cecchetti, S.G.1
  • 22
    • 12144275943 scopus 로고    scopus 로고
    • Die stabilitätsorientierte geldpolitische Strategie des Eurosystems
    • ECB January 1999 43-56
    • ECB, 1999. Die stabilitätsorientierte geldpolitische Strategie des Eurosystems. Monatsbericht, January, 1999, 43-56.
    • (1999) Monatsbericht
  • 23
    • 0004139283 scopus 로고    scopus 로고
    • ECB, Frankfurt
    • ECB 1999-2003. Monthly Bulletins. ECB, Frankfurt.
    • (1999) Monthly Bulletins
  • 25
    • 0032462140 scopus 로고    scopus 로고
    • European monetary unification: A tour d'horizon
    • Eichengreen B.European monetary unification: A tour d'horizon Oxford Review of Economic Policy 143 1998 24-40
    • (1998) Oxford Review of Economic Policy , vol.14 , Issue.3 , pp. 24-40
    • Eichengreen, B.1
  • 26
    • 0142145865 scopus 로고    scopus 로고
    • European Commission EC, Luxembourg
    • European Commission 2001. European Economy 72. EC, Luxembourg.
    • (2001) European Economy , vol.72
  • 27
    • 12144279727 scopus 로고    scopus 로고
    • Strengthening the Co-ordination of Budgetary Policies
    • European Commission Communication from the Commission to Council and the European Parliament COM, 668 final, 27 November 2002, Brussels
    • European Commission 2002. Strengthening the Co-ordination of Budgetary Policies. Communication from the Commission to Council and the European Parliament COM, 668 final, 27 November 2002, Brussels.
    • (2002)
  • 28
    • 12144277171 scopus 로고    scopus 로고
    • Historical Changes of the Fed Fund and Discount Rate (1971-Present)
    • Federal Reserve Bank of New York
    • Federal Reserve Bank of New York 2003. Historical Changes of the Fed Fund and Discount Rate (1971-Present). http://www.ny.frb.org/ pihome/statistics/dlyrates/fedrate.html
    • (2003)
  • 29
    • 12144280495 scopus 로고    scopus 로고
    • Unemployment in Europe and the US: Macroeconomics is the key
    • Flassbeck H. et al. Unemployment in Europe and the US: Macroeconomics is the key Internationale Politik und Gesellschaft 4 1997 412-424
    • (1997) Internationale Politik und Gesellschaft , vol.4 , pp. 412-424
    • Flassbeck, H.1
  • 30
    • 12144270535 scopus 로고    scopus 로고
    • EMU and the euro: An American perspective
    • Manuscript, presented in Frankfurt, 21 June 2000
    • Frankel, J.A., 2000. EMU and the euro: An American perspective. Manuscript, presented in Frankfurt, 21 June 2000. http://ksghome.harvard.edu/~.jfrankel.academic.ksg/ speechs-testimony.htm
    • (2000)
  • 31
    • 0142197986 scopus 로고    scopus 로고
    • The endogeneity of the optimum currency area criteria
    • Frankel J.A.Rose A.K.The endogeneity of the optimum currency area criteria The Economic Journal 108 1998 1009-1025
    • (1998) The Economic Journal , vol.108 , pp. 1009-1025
    • Frankel, J.A.1    Rose, A.K.2
  • 32
    • 0035720669 scopus 로고    scopus 로고
    • Strategic interaction of monetary policymakers and wage/price bargainers: A review with implications for the European common-currency area
    • Franzese R.J. Strategic interaction of monetary policymakers and wage/price bargainers: A review with implications for the European common-currency area Empirica 28 2001 457-486
    • (2001) Empirica , vol.28 , pp. 457-486
    • Franzese, R.J.1
  • 33
    • 0003301322 scopus 로고    scopus 로고
    • Is there a need for a co-ordinated European wage and labour market policy?
    • Huemer, G., Mesch, M., Traxler, F. (Eds.) Ashgate, Aldershot
    • Fritsche, U., et al., 1999. Is there a need for a co-ordinated European wage and labour market policy?, in: Huemer, G., Mesch, M., Traxler, F. (Eds.), The Role of Employer Associations and Labour Unions in the EMU. Ashgate, Aldershot.
    • (1999) The Role of Employer Associations and Labour Unions in the EMU
    • Fritsche, U.1
  • 34
    • 0005146946 scopus 로고    scopus 로고
    • The two concepts of money: Implications for the analysis of optimal currency areas
    • Goodhart C.The two concepts of money: Implications for the analysis of optimal currency areas European Journal of Political Economy. 14 1998 407-432
    • (1998) European Journal of Political Economy , vol.14 , pp. 407-432
    • Goodhart, C.1
  • 35
    • 12144257878 scopus 로고    scopus 로고
    • Central bank independence, labour market institutions and the perspectives for inflation and employment in the European Monetary Union
    • Hein E.Central bank independence, labour market institutions and the perspectives for inflation and employment in the European Monetary Union Political Economy Review of Political Economy and Social Sciences 10 2002a 37-64
    • (2002) Political Economy Review of Political Economy and Social Sciences , vol.10 , pp. 37-64
    • Hein, E.1
  • 36
    • 12144250005 scopus 로고    scopus 로고
    • Monetary policy and wage bargaining in the EMU: Restrictive ECB policies, high unemployment, nominal wage restraint and inflation above the target
    • Hein E.Monetary policy and wage bargaining in the EMU: Restrictive ECB policies, high unemployment, nominal wage restraint and inflation above the target Banca Nazionale del Lavoro Quarterly Review 55 2002b 299-337
    • (2002) Banca Nazionale Del Lavoro Quarterly Review , vol.55 , pp. 299-337
    • Hein, E.1
  • 37
    • 12144260674 scopus 로고    scopus 로고
    • Das Eurosystem: Eine paradigmenorientierte Darstellung und kritische Würdigung der europäischen Geldpolitik
    • Rosa Luxemburg Stiftung, Berlin
    • Heine, M., Herr, H., 2001. Das Eurosystem: Eine paradigmenorientierte Darstellung und kritische Würdigung der europäischen Geldpolitik. Rosa Luxemburg Stiftung, Berlin.
    • (2001)
    • Heine, M.1    Herr, H.2
  • 38
    • 12144268897 scopus 로고    scopus 로고
    • Wage coordination in the European Union-challenges for the coordination of collective bargaining
    • Hoffmann, R., et al. (Eds.) Hans Böckler Stiftung, Düsseldorf
    • Hoffmann, R., Mermet, E., 2000. Wage coordination in the European Union-challenges for the coordination of collective bargaining, in: Hoffmann, R., et al. (Eds.), Transnational Industrial Relations in Europe. Hans Böckler Stiftung, Düsseldorf.
    • (2000) Transnational Industrial Relations in Europe
    • Hoffmann, R.1    Mermet, E.2
  • 40
    • 0035997747 scopus 로고    scopus 로고
    • On macro economic policy co-ordination in EMU
    • Issing O. On macro economic policy co-ordination in EMU Journal of Common Market Studies 40 2002 354-358
    • (2002) Journal of Common Market Studies , vol.40 , pp. 354-358
    • Issing, O.1
  • 41
    • 0002647874 scopus 로고    scopus 로고
    • The role of banks in monetary policy: A survey with implications for the European Monetary Union
    • Kashyap A.K.Stein J.C.The role of banks in monetary policy: A survey with implications for the European Monetary Union Federal Reserve Bank of Chicago Economic Perpectives 225 1997 2-18
    • (1997) Federal Reserve Bank of Chicago Economic Perpectives , vol.22 , Issue.5 , pp. 2-18
    • Kashyap, A.K.1    Stein, J.C.2
  • 42
    • 0347465513 scopus 로고
    • Optimum currency areas
    • Eatwell, J., Milgate, M., Newman, P. (Eds.) Macmillan, London
    • Kawai, M., 1987. Optimum currency areas, in: Eatwell, J., Milgate, M., Newman, P. (Eds.), The New Palgrave. A Dictionary of Economics, vol. 3. Macmillan, London, pp. 740-743.
    • (1987) The New Palgrave. A Dictionary of Economics , vol.3 , pp. 740-743
    • Kawai, M.1
  • 43
  • 44
    • 84937322612 scopus 로고    scopus 로고
    • Restrictive macroeconomic policies and unemployment in the European Union
    • Lombard M.Restrictive macroeconomic policies and unemployment in the European Union Review of Political Economy 12 2000 317-332
    • (2000) Review of Political Economy , vol.12 , pp. 317-332
    • Lombard, M.1
  • 45
    • 0034788927 scopus 로고    scopus 로고
    • Monetary policy implementation and transmission in the European Monetary Union
    • October 2001
    • Mihov, I., 2001. Monetary policy implementation and transmission in the European Monetary Union. Economic Policy, October 2001, pp. 371-406.
    • (2001) Economic Policy , pp. 371-406
    • Mihov, I.1
  • 46
    • 0001260761 scopus 로고
    • A theory of optimum currency areas
    • Mundell R.A A theory of optimum currency areas American Economic Review 51 1961 657-665
    • (1961) American Economic Review , vol.51 , pp. 657-665
    • Mundell, R.A.1
  • 47
    • 12144254870 scopus 로고    scopus 로고
    • OECD Economic Outlook 70, Data on CD-ROM. OECD, Paris
    • OECD 2001. Economic Outlook 70, Data on CD-ROM. OECD, Paris.
    • (2001)
  • 48
    • 0031980961 scopus 로고    scopus 로고
    • The myth (or folly) of the 3% deficit/GDP Maastricht 'parameter'
    • Pasinetti L.L.The myth (or folly) of the 3% deficit/GDP Maastricht 'parameter' Cambridge Journal of Economics 22 1998 103-116
    • (1998) Cambridge Journal of Economics , vol.22 , pp. 103-116
    • Pasinetti, L.L.1
  • 49
    • 0035722430 scopus 로고    scopus 로고
    • Monitoring wage developments in EMU
    • Pichelmann K. Monitoring wage developments in EMU Empirica 28 2001 353-373
    • (2001) Empirica , vol.28 , pp. 353-373
    • Pichelmann, K.1
  • 51
    • 0347465510 scopus 로고    scopus 로고
    • The optimum currency area approach to European monetary integration: Framework of debate or dead end?
    • No. 2/2001. European Institute, South Bank University, London South Bank European Papers
    • Schelkle, W., 2001. The optimum currency area approach to European monetary integration: Framework of debate or dead end? South Bank European Papers, No. 2/2001. European Institute, South Bank University, London.
    • (2001)
    • Schelkle, W.1
  • 52
    • 12144274130 scopus 로고    scopus 로고
    • Europeanisation of Collective Bargaining. An Overview on Trade Union Initiatives for a Transnational Coordination of Collective Bargaining Policy
    • WSI Discussion-paper No. 101. WSI in der Hans-Böckler-Stiftung, Düsseldorf
    • Schulten, T., 2002a. Europeanisation of Collective Bargaining. An Overview on Trade Union Initiatives for a Transnational Coordination of Collective Bargaining Policy. WSI Discussion-paper No. 101. WSI in der Hans-Böckler-Stiftung, Düsseldorf.
    • (2002)
    • Schulten, T.1
  • 54
    • 12144256930 scopus 로고    scopus 로고
    • Collective Bargaining under the Euro. Experiences from the European Metal Industry
    • (Eds.) European Trade Union Institute, Brussels
    • Schulten, T., Bispinck, R. (Eds.) 2001. Collective Bargaining under the Euro. Experiences from the European Metal Industry. European Trade Union Institute, Brussels.
    • (2001)
    • Schulten, T.1    Bispinck, R.2
  • 55
    • 12144276368 scopus 로고    scopus 로고
    • The European Monetary Union: Success of failure? Political Economy
    • Semmler W.The European Monetary Union: Success of failure? Political Economy. Review of Political Economy and Social Sciences 7 2000 5-24
    • (2000) Review of Political Economy and Social Sciences , vol.7 , pp. 5-24
    • Semmler, W.1
  • 56
    • 0013174416 scopus 로고    scopus 로고
    • Unemployment in the United States and in Europe: A contrast and the reasons
    • Solow R.M.Unemployment in the United States and in Europe: A contrast and the reasons Ifo-Studien 46 2000 1-12
    • (2000) Ifo-Studien , vol.46 , pp. 1-12
    • Solow, R.M.1
  • 57
    • 0035720894 scopus 로고    scopus 로고
    • Multiple wage bargaining systems in the single European currency area
    • Soskice D.Iversen T.Multiple wage bargaining systems in the single European currency area Empirica 28 2001 435-456
    • (2001) Empirica , vol.28 , pp. 435-456
    • Soskice, D.1    Iversen, T.2
  • 58
    • 12144282113 scopus 로고    scopus 로고
    • Jahresgutachten 1997/1998 des Sachverständigenrates zur Begutachtung der gesamtwirtschaftlichen Entwicklung
    • SVR Bundestagsdrucksache 13/9690. Deutscher Bundestag, Bonn
    • SVR, 1997. Jahresgutachten 1997/1998 des Sachverständigenrates zur Begutachtung der gesamtwirtschaftlichen Entwicklung. Bundestagsdrucksache 13/9690. Deutscher Bundestag, Bonn.
    • (1997)
  • 59
    • 0000937564 scopus 로고    scopus 로고
    • Wage-setting institutions and European Monetary Union
    • Huemer, G., Mesch, M., Traxler, F. (Eds) Ashgate, Aldershot
    • Traxler, F., 1999. Wage-setting institutions and European Monetary Union, in: Huemer, G., Mesch, M., Traxler, F. (Eds), The Role of Employer Associations and Labour Unions in the EMU. Ashgate, Aldershot.
    • (1999) The Role of Employer Associations and Labour Unions in the EMU
    • Traxler, F.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.