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

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 independenc...

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Publisher:
Department of Economics (University of Oxford)
Series:
Discussion paper series
Publication date:
2009-01-01
Language:
English
UUID:
uuid:adc31d7b-9f53-4c1f-8974-d517249bdeed
Local pid:
oai:economics.ouls.ox.ac.uk:14277
Deposit date:
2011-08-16

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