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Too Much to Lose, or More to Gain? Should Sweden Join the Euro?

Reade, J. James and Volz, Ulrich (2009) Too Much to Lose, or More to Gain? Should Sweden Join the Euro? Oxford: Department of Economics, University of Oxford. Discussion Paper No. 442.

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Abstract

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.

Item Type: Monographs (Working Paper)
SOAS Departments & Centres: Faculty of Law and Social Sciences > Department of Economics
ISSN: 14710498
Depositing User: Ulrich Volz
Date Deposited: 11 Oct 2013 14:49
URI: http://eprints.soas.ac.uk/id/eprint/17176

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