haku: @author Engel, C. / yhteensä: 18
viite: 6 / 18
| Tekijä: | Devereux, M B. Engel, C. Tille, C. |
| Otsikko: | Exchange rate pass-through and the welfare effects of the Euro |
| Lehti: | International Economic Review
2003 : FEB, VOL. 44:1, p. 223-242 |
| Asiasana: | Exchange rates European monetary system Welfare economics |
| Kieli: | eng |
| Tiivistelmä: | The authors study explore the implications of the European single currency within a simple sticky price intertemporal model. The focus on the question of how the euro may change the sensivity of consumer prices in Europe to change rate changes. The central conjecture is that the acceptance of the euro will lead European prices to become more insulated from exchange-rate volatility. The authors find that this affectc both the volatility and levels of macroeconomic aggregate in both the USA and Europe; European welfare is enhanced, and the USA shares in Europe's good fortune. |
SCIMA