haku: @author Collard, F. / yhteensä: 4
viite: 3 / 4
| Tekijä: | Carre, M. Collard, F. |
| Otsikko: | Monetary union: a welfare based approach |
| Lehti: | European Economic Review
2003 : JUN, VOL. 47:3, p. 521-552 |
| Asiasana: | European Monetary System Exchange rate mechanism European Union |
| Kieli: | eng |
| Tiivistelmä: | The article examines the consequences of the transition to EMU for individual welfare following specific shocks. The authors show that, when facing a positive asymmetric permanent shock to either technology or government expenditures occurring in one country, implementing a monetary union is beneficial to the households living in this economy. A sensitive analysis shows that if the gains/losses is implementing monetary union are qualitatively robust foreign and domestic goods, they are quite sensitive to the degree of pricing-to-market in the economy. |
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