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- W2017143241 abstract "The introduction of the Euro in January 1999 consecrated the achievement of a single currency system within most of the European Union. Despite the dramatic change in the macroeconomic dynamics that this event is likely to have caused, the literature has paid little attention to testing for the existence of such a break and establishing its qualitative characteristics. This empirical study, based on the Blanchard and Quah (1989) methodology for seven countries having adopted the Euro currency and three members of the European Union which have preserved their own currencies reveals: very significant breaks for the Euro countries around 1992 – the year of adoption of the Maastricht Treaty – and 2000, not shared by the three non-Euro countries. an increase in the influence of supply shocks on the dynamics of output, unemployment and the interest rate after the breaks for the Euro countries, along with an increase of the part played by monetary disturbances within total demand at long horizons. These conclusions do not generally hold for the three non-Euro countries." @default.
- W2017143241 created "2016-06-24" @default.
- W2017143241 creator A5086258424 @default.
- W2017143241 date "2014-06-01" @default.
- W2017143241 modified "2023-09-26" @default.
- W2017143241 title "Euro introduction: Has there been a structural change? Study on 10 European Union countries" @default.
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- W2017143241 doi "https://doi.org/10.1016/j.econmod.2014.03.020" @default.
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