De Grauwe, Paul; Senegas, Marc-Alexandre - 2004
In this article we analyse how the enlargement of a monetary union may affect the design of the common monetary policy … asymmetry. This implies that if enlargement contributes to augmenting the transmission asymmetry of monetary policy in EMU, it … policies in the monetary union. Furthermore, the choice for a new EU Member State to enter EMU will also depend on the monetary …