Monetary policy choices in the pre-EMU period

| Publication date: 5 Nov 2004 | Theme: Macroeconomics | NIESR Author(s): Holland, D | External Author(s): Barrell, R.; Šmídková, K. | Journal: International Advances in Economic Research No 4 Vol 10

We argue that the choice of exchange rate regime in the process of accession to the European Union and EMU can affect the growth rate of the economy in the medium term. Empirical analysis is employed. We discuss the effects of exchange rate choice, and of the timing of transition to EMU on the core accession countries using model simulations.

Keyword tags: 
EMU membership
EU expansion
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