Clerc, L.; Dellas, H.; Loisel, O. - Banque de France - 2010
Monetary union can benefit countries suffering from policy credibility problems if it eliminates the inflation bias and … feasible even in the absence of credibility, and this may be more than what an individual country can hope for in a monetary … union. In this paper, we combine the stabilization and credibility branches of the currency union literature and construct a …
