Akhmadieva, Veronika and Smith, Ron P. (2019) The macroeconomic impact of The Euro. Working Paper. Birkbeck, University of London, London, UK.
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Abstract
This paper examines whether the establishment of the euro caused structural breaks in the main macroeconomic relationships of member countries. It compares eight original members of the common currency with four European countries that did not join. The analysis constructs counterfactuals using both single equation models and a six equation vector autoregression with foreign exogenous variables, VARX*, explaining output, inflation, equity prices, exchange rates and short and long interest rates. It considers which equations changed the most and the most likely dates for any structural break.
Metadata
| Item Type: | Monograph (Working Paper) |
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| Additional Information: | BCAM Working Paper Series 1903. ISSN 1745-8587 |
| Keyword(s) / Subject(s): | euro, structural-breaks, GVAR |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Applied Macroeconomics, Birkbeck Centre for, Innovation Management Research, Birkbeck Centre for |
| Depositing User: | Administrator |
| Date Deposited: | 09 Aug 2019 12:49 |
| Last Modified: | 02 Aug 2023 17:53 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/28495 |
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