Adopting the euro: an introduction to four country studies.: An article from: Comparative Economic Studies

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From the author: This paper introduces four studies on adoption of the euro in Croatia, Estonia, Hungary and Poland. It notes a common analytical framework, rooted in the optimal currency area Literature, and a welcome emphasis on financial market issues. The paper highlights the importance of differing country circumstances--the currency board in Estonia, or de facto euroisation in Croatia. But it focuses particular attention on some key differences of judgement in the papers: how central, is flexibility in the real economy, or fiscal credibility? And is a floating exchange rate a source of instability or a safety valve? In conclusion, the paper underscores that the authors--even when advocating early euroisation--surface important policy prerequisites, and some sobering risks along the way.

Citation Details
Title: Adopting the euro: an introduction to four country studies.
Author: C. Maxwell Watson
Publication:Comparative Economic Studies (Refereed)
Date: March 1, 2004
Publisher: Association for Comparative Economic Studies
Volume: 46 Issue: 1 Page: 95(9)

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