Publication details
Naše místo v eurozóně
| Title in English | Our place in the eurozone |
|---|---|
| Authors | |
| Year of publication | 2018 |
| Type | Conference abstract |
| MU Faculty or unit | |
| Citation | |
| Description | Fourteen years after the Czech Republic's accession to the European Union, there are growing pressures to launch a debate on the adoption of the euro. In this paper we deal with the economic aspects of the common currency in terms of key variables that are directly linked to money and currency. Interest rates were compared with the theoretical rates recommended by Taylor's rule. Significant differences between eurozone countries are observed in the development of price levels, wage inflation, long-term interest rates or purchasing power. Using cluster analysis, the homogeneity of the monetary union was verified on the basis of four key variables used to evaluate the convergence criteria. The results reject the theory of the eurozone division into the northern and southern wings: the eurozone is a significantly heterogeneous area in economic terms. Moreover, in the case of euro adoption, the Czech Republic would not belong to the northern wing, but to the separate wing of post-communist economies - along with the Baltic states. |
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