Une union monétaire européenne pourrait-elle être moins inflationniste qu'une zone mark? un argument

We develop an argument which shows that inflation tends to be both lower and less variable in a symmetric monetary zone (a European Monetary Union) than in an asymmetric one (a Deutsche-Mark zone). The argument is related to issue of credibility of monetary policy. We show that in the symmetric system the central bank should care more about inflation than in the asymmetric one.

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Year of publication:	1991
Authors:	LASKAR, Daniel
Published in:	Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 1991, 24, p. 155-179
Publisher:	École Nationale de la Statistique et de l'Admnistration Économique (ENSAE)

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005065701