Acceding Countries: The Road to the Euro

Lars Calmfors, Giancarlo Corsetti, Seppo Honkapohja, John Kay, Willi Leibfritz, Gilles Saint-Paul, Hans-Werner Sinn and Xavier Vives

EEAG Report on the European Economy, 2004, 119-136

Abstract: This chapter discusses the challenge to macroeconomic stabilisation in the ten new members of the EU during the convergence process posed by liberalised capital markets.The focus is on financial and currency fragility created by dangerously high volatility of capital flows and possible policies to reduce macroeconomic vulnerability to a crisis.

Date: 2004
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Chapter: Acceding Countries: The Road to the Euro (2009)
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