{"product_id":"on-the-way-to-eurozone-von-yordanka-chobanova","title":"On the way to Eurozone","description":"\u003cp\u003eIs there a necessity for revision of reference  values (inflation and deficit) of the Maastricht  monetary convergence criteria by considering the  equilibrium characteristics of new, catching up  member-states? Drawing on governmental documents and  reports issued by the IMF, EBRD, Bulgarian Agency  for Economic Analysis and Forecasting, Bulgarian and  Hungarian National Bank and interviews with former  and present governmental officials and respected  scholars, this work argues that the existing Balassa- Samuelson (BS) effect in the catching-up transition  economies frustrates the possibility for compliance  with the Maastricht monetary convergence criteria  necessary for EMU membership. The study recommends  the Maastricht criteria to be defined in reference  to the average inflation rate of the euro zone (the  Harmonized Index of Consumer Prices, HICP), not the  three EU members with the lowest inflation rate.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843375863\"\u003e\u003ch3\u003eThe case of Bulgaria and Hungary\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843375863","offer_id":39470047461469,"sku":"9783843375863","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/b04be350-acb4-40fd-9245-1ad975014f8a.jpg?v=1758869823","url":"https:\/\/shop.autorenwelt.de\/en\/products\/on-the-way-to-eurozone-von-yordanka-chobanova","provider":"Autorenwelt Shop","version":"1.0","type":"link"}