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vulnerability in Euroland and the monetary union

From: 11 May 2017 - 16:00 To: 11 May 2017 - 17:00

vulnerability in Euroland and the monetary union

Professor Bernard Fingleton from the University of Cambridge will present his research as part of the ongoing Economics Visiting Speaker Series.

DEPARTMENT OF ECONOMICS VISITING SPEAKER SERIES

Professor Bernard Fingleton, will be presenting his paper titled, The vulnerability of regions in Euroland in relation to monetary union

  Date   Thursday 11 May                               
  Time   4:00 pm
  Venue   Room G.26, Aras na Laoi, UCC

About 

Bernard Fingleton is a Director of Research in the Department of Land Economy, University of Cambridge.

Previously he was University Reader in Geographical Economics at Cambridge University, and was a Professor of Economics at Strathclyde University, Glasgow, Scotland.

Abstract

Looked at from the regional perspective, the Eurozone was created without conforming to the ideal of an optimal currency area (OCA). However, its very creation could have produced the sought-after convergence. The question is, did it?  The big test was the 2007 crisis and its aftermath. Would regions react symmetrically to the shock, as one would expect from an OCA?  Simulation of the no-crisis counterfactual indicates significant asymmetry in shocks to employment across EU regions over the period 2008-2011, suggesting that there had been no endogenous movement towards an OCA.

All very welcome to attend.  

 

Photo credit: Daniela Hartmann (alles-schlumpf) via Visualhunt / CC BY-NC-SA