search query: @author MacKinnon, J.G. / total: 2
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| Author: | Haug, A.A. MacKinnon, J.G. Michelis, L. |
| Title: | European Monetary Union: a cointegration analysis |
| Journal: | Journal of International Money and Finance
2000 : JUN, VOL. 19:3, p. 419-432 |
| Index terms: | European Union European Monetary System Country comparisons Models |
| Freeterms: | EMU EMS Co-movement |
| Language: | eng |
| Abstract: | This paper employs systems-based cointegration techniques developed by Johansen (1998) to determine which European Union countries would form a successful Economic and Monetary Union (EMU) based on long-run behaviour of the nominal convergence criteria. The original 12 EU countries are analyzed together. The results suggest that not all of the 12 original EU countries can form a successful EMU over time, unless several countries make significant adjustments. |
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