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    The macroeconomic impact of the euro

    Smith, Ron P. and Akhmadieva, Veronika (2019) The macroeconomic impact of the euro. Scientific Annals of Economics and Business 66 (SI2), pp. 229-242. ISSN 2501-3165.

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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: Article
    Keyword(s) / Subject(s): euro, structural-breaks, GVAR
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Research Centres and Institutes: Applied Macroeconomics, Birkbeck Centre for
    Depositing User: Ron Smith
    Date Deposited: 03 Mar 2020 09:44
    Last Modified: 11 Jun 2021 16:29
    URI: https://eprints.bbk.ac.uk/id/eprint/30403

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