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Implications of EMU Enlargement for European Monetary Policy: A Political Economy View

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Maier, P., Hendrikx, M. Implications of EMU Enlargement for European Monetary Policy: A Political Economy View. Credit and Capital Markets – Kredit und Kapital, 36(2), 137-166. https://doi.org/10.3790/ccm.36.2.137
Maier, Philipp and Hendrikx, Maarten "Implications of EMU Enlargement for European Monetary Policy: A Political Economy View" Credit and Capital Markets – Kredit und Kapital 36.2, 2003, 137-166. https://doi.org/10.3790/ccm.36.2.137
Maier, Philipp/Hendrikx, Maarten (2003): Implications of EMU Enlargement for European Monetary Policy: A Political Economy View, in: Credit and Capital Markets – Kredit und Kapital, vol. 36, iss. 2, 137-166, [online] https://doi.org/10.3790/ccm.36.2.137

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Implications of EMU Enlargement for European Monetary Policy: A Political Economy View

Maier, Philipp | Hendrikx, Maarten

Credit and Capital Markets – Kredit und Kapital, Vol. 36 (2003), Iss. 2 : pp. 137–166

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Philipp Maier, Amsterdam

Maarten Hendrikx, Amsterdam

References

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Abstract

In this paper we investigate the implications of EMU enlargement from a political economy perspective. We argue that a high degree of convergence of the candidate countries prior to EMU accession is an important requisite. Otherwise, as a result of a sharp increase in economic dispersion, public support for European monetary policy is likely to decrease, and external pressure on the European Central Bank will mount. (JEL E 58, E 50, D 78)