Too much to lose, or more to gain? Should Sweden join the Euro?
This paper considers the costs and benefits of Sweden joining the European Economic and Monetary Union (EMU). We pay particular attention to the costs of abandoning the krona in terms of a loss of monetary policy independence. For this purpose, we apply a cointegrated VAR framework to examine the...
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| Format: | Working paper |
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University of Oxford
2009
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| _version_ | 1826281158174834688 |
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| author | Reade, J Volz, U |
| author_facet | Reade, J Volz, U |
| author_sort | Reade, J |
| collection | OXFORD |
| description | This paper considers the costs and benefits of Sweden joining the European Economic and Monetary Union (EMU). We pay particular attention to the costs of abandoning the krona in terms of a loss of monetary policy independence. For this purpose, we apply a cointegrated VAR framework to examine the degree of monetary independence that the Sveriges Riksbank enjoys. Our results suggest that Sweden has in fact relatively little to lose from joining EMU, at least in terms of monetary independence. We complement our analysis by looking into other criteria affecting the cost-benefit calculus of monetary integration, which, by and large, support our positive assessment of Swedish EMU membership. |
| first_indexed | 2024-03-07T00:24:35Z |
| format | Working paper |
| id | oxford-uuid:7db51231-9f69-4426-ae19-f3f9974a2045 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T00:24:35Z |
| publishDate | 2009 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:7db51231-9f69-4426-ae19-f3f9974a20452022-03-26T21:05:21ZToo much to lose, or more to gain? Should Sweden join the Euro?Working paperhttp://purl.org/coar/resource_type/c_8042uuid:7db51231-9f69-4426-ae19-f3f9974a2045Bulk import via SwordSymplectic ElementsUniversity of Oxford2009Reade, JVolz, UThis paper considers the costs and benefits of Sweden joining the European Economic and Monetary Union (EMU). We pay particular attention to the costs of abandoning the krona in terms of a loss of monetary policy independence. For this purpose, we apply a cointegrated VAR framework to examine the degree of monetary independence that the Sveriges Riksbank enjoys. Our results suggest that Sweden has in fact relatively little to lose from joining EMU, at least in terms of monetary independence. We complement our analysis by looking into other criteria affecting the cost-benefit calculus of monetary integration, which, by and large, support our positive assessment of Swedish EMU membership. |
| spellingShingle | Reade, J Volz, U Too much to lose, or more to gain? Should Sweden join the Euro? |
| title | Too much to lose, or more to gain? Should Sweden join the Euro? |
| title_full | Too much to lose, or more to gain? Should Sweden join the Euro? |
| title_fullStr | Too much to lose, or more to gain? Should Sweden join the Euro? |
| title_full_unstemmed | Too much to lose, or more to gain? Should Sweden join the Euro? |
| title_short | Too much to lose, or more to gain? Should Sweden join the Euro? |
| title_sort | too much to lose or more to gain should sweden join the euro |
| work_keys_str_mv | AT readej toomuchtoloseormoretogainshouldswedenjointheeuro AT volzu toomuchtoloseormoretogainshouldswedenjointheeuro |