Impact of euro adoption in emerging European countries
研究了欧元对三类欧洲国家主权债务的影响，发现出口和失业率与债务正相关，市场资本化与债务负相关，建议东欧和中欧的欧盟成员国及候选国推迟采用欧元。
We study the impact of the euro on emerging European countriesby investigating three country groups: (1) seventeen Eurozonecountries, (2) seven EU Eastern and Central European (ECE)members using local currencies, and (3) six EU Candidates. Weanalyze macroeconomic indicators and propose models to investigatewhether similar or different indicators influence sovereigndebt for each group. We find that exports and unemployment arepositively related to sovereign debt while market capitalizationshows negative relation with sovereign debt. We argue that the recentEuropean sovereign debt crisis has raised serious challengesfor the Eurozone, and propose that EU ECE members and eu candidatesdelay the adoption of the euro.