Duwicquet, Vincent; Mazier, Jacques; Saadaoui, Jamel - HAL - 2012
The euro zone crisis illustrates the insufficiency of adjustment mechanisms in a monetary union characterized by a … reflects a simple diagnosis. At the level of the whole euro zone, the euro is close to its equilibrium parity. But the euro is …, especially Germany. In a first step, the paper gives an evaluation of these exchange rate misalignments inside the euro zone …