Springer - Inclusion of Central European Countries in EMU

Explore the historical and economic complexities of the European Economic and Monetary Union (EMU) through this scholarly work from Springer. The introduction of the euro represents a major milestone for EU nations, triggering extensive academic debate regarding the theory of the optimum currency area. This book examines the various costs and benefits associated with the EMU, including the impact of symmetric versus asymmetric shocks. As Central European candidate countries prepared for full EU membership, their focus shifted from developing individual monetary and exchange rate policies toward understanding the broader implications of a monetary union. This text provides a deep look into the alternative mechanisms of adjustment available within a monetary union and the specific challenges faced by these transitioning economies. It is an essential resource for those studying business, finance, and economic history within the context of European integration.