Bernoth, Kerstin; Engler, Philipp - In: DIW Wochenbericht 79 (2012) 44, pp. 3-8
With the crisis in the euro area, the issue of the institutional structure of the monetary union has gained in significance. One problem with regard to the longer-term stability of the euro area is the absence of mechanisms to adequately absorb asymmetric cyclical shocks in the individual Member...