European Monetary Union and the Euro

NEW “The estimated effects of the euro on trade:  Why are they below historical evidence on effects of monetary unions among smaller countries?” October 20, for NBER conference on Europe and the Euro, Milan, organized by Alberto Alesina & Francesco Giavazzi, Oct. 17-18, 2008.   Slides.  Earlier version, “The estimated effects of the euro on trade” presented July 2008, for 14th Dubrovnik Economic Conference, sponsored by Croatian National Bank.   Data set will soon be posted.

“Should Central European Countries Join the Euro? A Review and Update of Trade Estimates and Consideration of Endogenous OCA Criteria,” July 21, 2008; for Common Currency and Its Future Lesson for the New Member States, National Bank of Poland, Warsaw, October 15, 2008.

Comments on Richard Baldwin’s, “The Euro’s Trade Effects,” for What effects is EMU having on the euro area and its member countries? European Central Bank, Frankfurt, 16 June, 2005.

Comments on Adam Posen, at Conference on the Euro at Five, Institute for International Economics, Feb. 26, 2004.

“Currency Blocs and Market Integration: Implications for Trade and Business Cycle Correlations,” A background report for the Commission on The UK Outside the Euro, October 30, 2002.

"EMU and the Euro: An American Perspective," for EMU Watch Series, DB Research, presented at Deutsche Bank, Frankfurt, June 21, 2000.

"On the Euro: Impacts on Members and Non-Members," and "Keynote Address," The European Conference Centre, Luxembourg, 3-4 December 1998. Published in The Euro as a Stabilizer in the International Economic System, Armand Clesse, editor, Kluwer Academic Publishers, Norwell MA, 1999.

"The Endogeneity of the Optimum Currency Area Criterion"  (with Andrew Rose), in The Economic Journal, vol. 108, no. 449, July 1998, 1009-1025.    NBER Working Paper No. 5700.    Reprinted in Swedish Economic Policy Review 4, 1997, 487-512.   Reprinted also in The Political Economy of Monetary Union, P.DeGrauwe, ed., International Library of Critical Writings in Economics (Edward Elgar, Cheltenham, UK, and Northampton, MA, 2001).  And in Political Economy of International Monetary Interdependence, New World Order Series, vol. 25, H.Singer, N.Hatti and R.Tandon, eds. (BR Publ.Corp.: Delhi, B.R., 2006).    

"Economic Structure and the Decision to Adopt a Common Currency" (with Andrew Rose), CIDER WP No. C96-073, and IIES Seminar Paper No. 611, Stockholm. First published (in Swedish) as "The Endogeneity of the Optimum Currency Area Criterion: An Application to Sweden's Decision on EMU," Background report to the Swedish Government Commission on EMU, Statens Offentliga Utredningar 1996:158, Finance Department, 1997. Condensed and published in English as  "Is EMU More Justifiable Ex Post than Ex Ante?" European Economic Review, 1997.

"A Proposal to Introduce the ECU First in the East," (with Charles Wyplosz), Institute for International Economics, Washington, DC, March 23, 1995. CIDER Working Paper No. C95-055, U.C. Berkeley, June 1995. in European Parliamentary Yearbook 1995/96.

"'Excessive Deficits': Sense and Nonsense in the Treaty of Maastricht; Comments on Buiter, Corsetti and Roubini," Centre for Economic Policy Research, London; Economic Policy 16, April 1993, 92-97.

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