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Euron och europeisk konkurrens i ett finskt perspektiv

Andrén, Niclas LU and Oxelheim, Lars LU (2002) In Journal of the Finnish Economic Society 55. p.5-19
Abstract
In this article we analyze what has been achieved by the introduction of the euro in terms of macroeconomic convergence and leveling of competitive prerequisites among the EMU member countries. In particular, has the convergence in nominal exchange rates resulted in divergence in real exchange and interest rates? And how has Finland fared relative to the EMU members? The answer is that real exchange and interest rates have diverged in the EMU after the introduction of the euro. This divergence is remarkably large in a historical comparison. The Finnish government faces a challenge of forming a policy aimed at dampening the domestic roots of the divergence as well of influencing the policy-making at the EU-level to avoid making the... (More)
In this article we analyze what has been achieved by the introduction of the euro in terms of macroeconomic convergence and leveling of competitive prerequisites among the EMU member countries. In particular, has the convergence in nominal exchange rates resulted in divergence in real exchange and interest rates? And how has Finland fared relative to the EMU members? The answer is that real exchange and interest rates have diverged in the EMU after the introduction of the euro. This divergence is remarkably large in a historical comparison. The Finnish government faces a challenge of forming a policy aimed at dampening the domestic roots of the divergence as well of influencing the policy-making at the EU-level to avoid making the divergence put the entire EMU at stake. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Finland, EMU, euro
in
Journal of the Finnish Economic Society
volume
55
pages
5 - 19
external identifiers
  • Scopus:0036354812
language
Swedish
LU publication?
yes
id
071016bf-b6bc-49cb-be9d-20ccb0c4193e (old id 1386506)
date added to LUP
2009-04-20 12:27:22
date last changed
2016-10-13 04:54:59
@misc{071016bf-b6bc-49cb-be9d-20ccb0c4193e,
  abstract     = {In this article we analyze what has been achieved by the introduction of the euro in terms of macroeconomic convergence and leveling of competitive prerequisites among the EMU member countries. In particular, has the convergence in nominal exchange rates resulted in divergence in real exchange and interest rates? And how has Finland fared relative to the EMU members? The answer is that real exchange and interest rates have diverged in the EMU after the introduction of the euro. This divergence is remarkably large in a historical comparison. The Finnish government faces a challenge of forming a policy aimed at dampening the domestic roots of the divergence as well of influencing the policy-making at the EU-level to avoid making the divergence put the entire EMU at stake.},
  author       = {Andrén, Niclas and Oxelheim, Lars},
  keyword      = {Finland,EMU,euro},
  language     = {swe},
  pages        = {5--19},
  series       = {Journal of the Finnish Economic Society},
  title        = {Euron och europeisk konkurrens i ett finskt perspektiv},
  volume       = {55},
  year         = {2002},
}