Zone euro

Résumé

La zone euro, aussi appelé eurozone, est une zone monétaire qui regroupe les États membres de l'Union européenne qui ont adopté l'euro (EUR, « € ») comme monnaie ; sur les vingt-sept États membres de l'UE, vingt utilisent l'euro. Ces vingt pays représentent plus de en 2023 pour un PIB cumulé de et un taux de chômage moyen de 4,80 % de la population active, qui est cependant plus fort chez les moins de 25 ans, proche des 20 %. La zone euro a été créée en 1999 par onze pays : Allemagne, Autriche, Belgique, Espagne, Finlande, France, Irlande, Italie, Luxembourg, Pays-Bas, Portugal, rejoints ensuite par la Grèce en 2001, la Slovénie en 2007, Chypre et Malte en 2008, la Slovaquie en 2009, l'Estonie en 2011, la Lettonie en 2014, la Lituanie en 2015 et la Croatie le . Les billets et les pièces circulent depuis le mais sont fabriqués depuis 1998 dans les onze pays fondateurs, par exemple à Pessac en France dès . Plusieurs critères sont nécessaires po

Source officielle

https://fr.wikipedia.org/wiki/Zone_euro

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Cours associés (7)

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Séances de cours associées (27)

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On the Benefits of a Monetary Union: Does it Pay to Be Bigger?

Chiara Forlati

This paper revisits the question of the appropriate domain of a currency area using a New-Keynesian open economy model in which the world is split in two areas, each framed as a continuum of small open regions. We show that the adoption of a common currency like the euro can be beneficial for the members of the monetary union, since the spill-over effects within and across areas generated by the inflationary policies of the small open economies are likely to outweigh the costs of not tailoring monetary policy to country-specific shocks. We also show that while enlargement of the monetary union to another group of small open economies can bring about welfare gains for all countries involved, monetary integration of two large economies, such as the euro area and the U.S., will not. These findings can rationalize the process of the creation and enlargement of the eurozone.

Center for Fiscal Policy Working Paper Series2013

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Does Austerity Go Along With Internal Devaluations?

Luisa Lambertini

Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net exports, a fall in the relative price of non-tradables and a shift of consumption towards non-tradables. We show that these patterns are generally consistent with a neoclassical small open economy model with GHH preferences. The main remaining discrepancy between model and data is a missing terms of trade response in the data: Export prices did not decline in austere countries (nor did import prices), giving rise to asymmetric expenditure switching: Current account improvements are solely driven by falls in imports rather than increasing exports.

2019

Chargement

Does Austerity Go Along with Internal Devaluations?

Luisa Lambertini

Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net exports, a fall in the relative price of non-tradables and a shift of consumption towards nontradables. We show that these patterns are generally consistent with a neoclassical small open economy model with GHH preferences. The main remaining discrepancy between model and data is a missing terms of trade response in the data: Export prices did not decline in austere countries (nor did import prices), giving rise to asymmetric expenditure switching: Current account improvements are solely driven by falls in imports rather than increasing exports.

2019

Chargement