The importance of the Discrete Multicriteria Decision to establish a ranking among European Monetary Union countries. A New macroeconomic approach

摘要

In the current economic context, the risk premium of the different countries of the European Monetary Union is a very important variable (especially in those countries where the financial crisis is deeper) Therefore the aim of this paper is twofold: on the one hand, it focuses on the use of panel data models to analyze the dynamic of the risk premium of eleven countries of the European Monetary Union (EMU) from 1999 until 2011 and also to determinate the influence that macroeconomic variable have on the evolution of the risk premium. And, on the other hand, we analyze the use of multicriteria decision making methods to establish an order of preference among the eleven EMU countries selected. The results show that the ranking among the countries with risk premium is very similar to the ranking obtained using PROMETHEE Methods.