Johansson, Tony; Ljungberg, Jonas - Ekonomisk-historiska Institutionen, Ekonomihögskolan - 2013
This paper argues that the depth and longevity of the crisis in the eurozone is due to structural and institutional differences between its members and that these are difficult to handle in a monetary union. We show this, first, by a test of the ‘one-size-fits-all’ ECB monetary policy. The...