We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Does membership of the EMU matter for economic and financial outcomes?
- Authors
Ardakani, Omid M.; Kishor, N. Kundan; Song, Suyong
- Abstract
This study examines the effects of joining the European Monetary Union (EMU) using propensity score matching to address self‐selection bias. Findings indicate that EMU membership leads to reduced volatility in inflation, output growth, and bond yields. However, it also reveals fiscal deterioration in member states during the pre‐financial crisis period, even excluding Greece, Ireland, Portugal, and Spain. These countries experienced favorable bond market conditions pre‐crisis. The study underscores varying EMU effectiveness across different periods and countries, emphasizing the importance for policymakers to consider these variations when adopting EMU strategies.
- Subjects
GREECE; PORTUGAL; MONETARY unions; BOND market; PROPENSITY score matching; BONDS (Finance); PUBLIC debts
- Publication
Contemporary Economic Policy, 2024, Vol 42, Issue 3, p416
- ISSN
1074-3529
- Publication type
Article
- DOI
10.1111/coep.12638