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Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
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We estimate that the euro has increased trade within the eurozone by about 26 percent and trade between the eurozone … significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi-finished and …
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possible integration effects: trade effects, Single Market effects, factor movements (FDI, migration) and the costs of …
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