Maastricht Criteria of…Divergence?

Tumbling Giant: Germany’s Experience with the Maastricht Fiscal Criteria

The Maastricht criteria and the Euro: Has the convergence continued?

We analyze the performance of the Maastricht convergence criteria (inflation, long-term interest rate, annual and overall public debt) of the European Monetary Union (EMU) that led to the introduction of the Euro on Jan. 1 1999 as book currency. Defining 3 regimes, 1992-97, 1997-1999 and 2000-2001, we analyse convergence properties, like a smooth or a rough transition in the mean or variance sh...

The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries

The EMU accession countries are obliged to fulfill the Maastricht convergence criteria prior to entering the EMU. What should be the optimal monetary policy satisfying these criteria? To answer this question, the paper proposes a DSGE model of a two-sector small open economy. First, I derive the micro founded loss function that represents the objective function of the optimal monetary policy no...

CONVERGENCE INDICATORS Table 1 Convergence of Accession and Reference Countries : The Maastricht Criteria , 2000 °

Alexander Sebald University of Maastricht

Different to other scientific disciplines traditional economic theory has remained remarkably silent about procedural aspects of strategic interactions. Much to the contrast, among psychologists there is by now a broad consensus that not only expected outcomes shape human behaviour, but also procedures that are used to take decisions. It is argued that procedural concerns are especially pervasi...