Choosing the Regime: Macroeconomic Effects of UK Entry into EMU

Ray Barrell and Karen Dury

Journal of Common Market Studies, 2000, vol. 38, issue 4, 625-644

Abstract: The UK's decision on EMU membership depends in part on its effects on the economy. The UK targets inflation, and this involves some ‘price level drift’, whilst the ECB emphasizes price stability and would plan to reverse the drift in the price level caused by external shocks such as an increase in the oil price. We discuss the foundations of the ECB policy in German Ordoliberalism. The regimes are then compared over the future using a large macro model (NiGEM) which includes descriptions of all the European economies. It is repeatedly subject to historically representative shocks. The effects of these shocks are compared with the UK in and out of EMU.

Date: 2000
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://doi.org/10.1111/1468-5965.00257

Related works:
Working Paper: Choosing the regime: macroeconomic effects of UK entry into EMU (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jcmkts:v:38:y:2000:i:4:p:625-644

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0021-9886

Access Statistics for this article

Journal of Common Market Studies is currently edited by Jim Rollo and Daniel Wincott

More articles in Journal of Common Market Studies from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().