Macroeconomic Performance of the United Kingdom along the Birth of the European Single Currency Euro = Macroeconomic Performance of the United Kingdom along the Birth of the European Single Currency Euro

다국어 초록 (Multilingual Abstract)

We study the macroeconomic performance of the United Kingdom following the birth of the European single currency euro in 1999. We look at the output, inflation, government budget balance, exchange rate, and currenct account records in the UK compared to other major European countries and the US before and after the introduction of euro. We find that the single currency euro per se does not necessarily improve the macroeconomic performance of the member states in the analysis of the output, price and current account data. We must introduce additional instruments and close policy arrangements in order to materialize the economic benefits of a single currency.