sh.sePublications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
The Cost and Benefits of a Swedish EMU Membership: An analysis of the consequences for Sweden to had opted out of the European Monetary Union
Södertörn University, School of Social Sciences, Economics.
2018 (English)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The 2008/2009 world financial crisis, as well as the 2010 onwards European sovereign debt crisis, retriggered the debate on costs and benefits of a European Monetary Union membership. This thesis examines whether Sweden experienced net costs or benefits in opting out the EMU, especially in comparison to Finland due to the close link between both economies, as well as cultural and geographical similarities. While both countries were drawing a convergent economic path from the 1990’s, in 1999, with the Euro adoption in Finland, the two Scandinavian economies chose different tracks in terms of monetary policies. Sweden opted to remain outside the EMU and maintain the floating exchange rate and the control of domestic monetary issues, while Finland chose to relinquish monetary policy autonomy and started to follow the rules and constraints of the European Central Bank. Furthermore, the paper analyzes the economic development of UK in comparison with France, due to the approximate size of both economies (one EMU member and the other an outsider), and also Germany, the EMU leader, and the Euro area as a whole. The data base from Eurostat and the Synthetic Counterfactual Method have shown that there were net benefits for Sweden not to had joined the EMU. Moreover, the paper presents the Theory of Optimum Currency Area, first introduced by Mundell in 1961 as the starting point on the discussion of costs and benefits of an EMU membership.

Place, publisher, year, edition, pages
2018. , p. 57
Keywords [en]
Sweden, Finland, EMU, Monetary Policy, OCA
National Category
Economics
Identifiers
URN: urn:nbn:se:sh:diva-35466OAI: oai:DiVA.org:sh-35466DiVA, id: diva2:1214219
Subject / course
Economics
Presentation
2018-06-01, ME455, Alfred Nobels allé 7, Flemingsberg, Huddinge, 10:45 (English)
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2018-06-07 Created: 2018-06-06 Last updated: 2018-06-07Bibliographically approved

Open Access in DiVA

fulltext(1215 kB)4 downloads
File information
File name FULLTEXT01.pdfFile size 1215 kBChecksum SHA-512
e00b07aa82d456c084e80ccc438083502c1c25b04fdf0e9a2ac183c80ccdc6095b4106b7d6de973c3a508be7d8cbc8b8a787499cc7e15132955cb0a1aa825674
Type fulltextMimetype application/pdf

By organisation
Economics
Economics

Search outside of DiVA

GoogleGoogle Scholar
Total: 4 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

urn-nbn

Altmetric score

urn-nbn
Total: 18 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf