Politique monétaire en union monétaire et en change flexible : une approche analytique
Using a two-country model of the "New Open-Economy Macroeconomics" which is analytically solved through a second-order approximation, we consider optimal monetary policies in a monetary union and in a flexible exchange rate regime. Comparing these two regimes, we show that a monetary union is preferred in case of mark-up shocks which affect price determination, and that the symmetry or asymmetry of shocks is not necessarily relevant anymore.
Year of publication: |
2007
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Authors: | LASKAR, Daniel |
Published in: |
Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 2007, 86, p. 149-185
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Publisher: |
École Nationale de la Statistique et de l'Admnistration Économique (ENSAE) |
Saved in:
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