scholarly journals Is the Region of Visegrad Countries on the Track to the Euro Area? Recent Evidence from the Real Convergence Perspective

2014 ◽  
pp. 130-139
Author(s):  
D. Stavarek ◽  
L. Tomanova
Keyword(s):  
Euro Area ◽  
The Real ◽  
Real Convergence ◽  
Visegrád Countries

scholarly journals Nominal, Structural and Real Convergence of the EU Candidate Countries’ Economies

2021 ◽  
Vol 10 (3) ◽  
pp. 59-78
Author(s):  
Daniela Bobeva
Keyword(s):  
Euro Area ◽  
Positive Relationship ◽  
Economic Convergence ◽  
Economic Cycle ◽  
The Real ◽  
Sectoral Structure ◽  
Current State ◽  
Real Convergence ◽  
Eu Candidate Countries ◽  
The Eu

Abstract Despite the significant academic interest in the economic cohesion, the various aspects of convergence and the ways they can be measured still remain theoretically unclear. These are issues of extreme political significance, especially for countries aspiring for EU and euro area membership. The goal of this paper is to consolidate a variety of theoretical views on the convergence and its measurement and use it as the basis to assess the progress and the current state of economic convergence to the EU of the four candidate countries. The interrelation between the three forms of convergence in the different phases of the economic cycle is studied and the slobs in the ways the convergence is measured are outlined. The study reveals large differences between the candidate countries in achieving convergence with the EU. Their experiences do not confirm the positive relationship between nominal and real convergence. The structural convergence considered as convergence of sectoral structure has but little impact on the real convergence.

scholarly journals Revisiting euro area accession terms: fiscal rectitude is not sufficient!

2019 ◽  
Vol 69 (s1) ◽  
pp. 73-97
Author(s):  
Daniel Daianu
Keyword(s):  
Exchange Rate ◽  
Euro Area ◽  
Risk Sharing ◽  
Critical Mass ◽  
Value Chains ◽  
Middle Income ◽  
Real Convergence ◽  
Production Value ◽  
Per Se ◽  
Productivity Gains

This paper argues that there are conditions for successful euro area (EA) accession, apart from fiscal rectitude. One is an ex ante critical mass of real convergence which should enhance lasting nominal convergence. Another condition is an overhaul of EA mechanisms and policies that should make it a properly functioning monetary union, which implies an adequate mix between risk-reduction and risk-sharing. It is argued that risk-sharing cannot be secured by private sector arrangements only. Entering the ERM2 is deemed to be no less demanding than euro area accession per se, especially for countries that use fl exible exchange rate regimes. The paper examines also the infl uence of production (value) chains on the efficacy of autonomous monetary and exchange rate policies when it comes to controlling external imbalances; macro-prudential policies, too, are highlighted in this regard. Steady productivity gains are a must for surmounting the middle income trap and achieving sustainable real convergence.

scholarly journals On the Real Effect of Financial Pressure: Evidence From Firm‐Level Employment During the Euro‐Area Crisis

2018 ◽  
Vol 81 (3) ◽  
pp. 617-646 ◽  
Author(s):  
Filipa Da Silva Fernandes ◽  
Alexandros Kontonikas ◽  
Serafeim Tsoukas
Keyword(s):  
Euro Area ◽  
Firm Level ◽  
Real Effect ◽  
The Real ◽  
Financial Pressure
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