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Catching-up and inflation differentials in a heterogeneous monetary union : some implications for the euro area and new EU member states
MacDonald, Ronald; Wójcik, Cezary - In: Economic systems 32 (2008) 1, pp. 4-16
Persistent link: https://www.econbiz.de/10003723671
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Catching-Up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union : Some Implications for Emu and New EU Member States
MacDonald, Ronald - 2013
In this paper we propose an alternative explanation for the nature, sources and consequences of inflation rate differentials in a monetary union, such as EMU. To achieve this, we build on the new neoclassical synthesis (NNS) framework, recently advanced by Goodfriend (2002) and Goodfriend and...
Persistent link: https://www.econbiz.de/10012754168