Abstract
The main objective of the EU for a long time the establishment of economic and monetary union through the Copenhagen criteria and the Maastricht Treaty, taking several conditions to get to the monetary union, a specific set of convergence criteria for entry into the third phase, containing the rate of inflation, government deficit, the annual, government debt, and the interest rate long-term, and despite the formation of a monetary union for more than a decade, but it suffers from some of the economic and monetary fluctuations and shocks affecting the European monetary system of the euro. In this research, trying to measure such a shock through the functions of the pulse response and analysis of variance components.
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