Clerc, Laurent; Dellas, Harris; Loisel, Olivier - In: Journal of International Economics 83 (2011) 2, pp. 154-167
Monetary union can benefit countries suffering from policy credibility problems if it eliminates the inflation bias and also allows for more efficient management of certain shocks. But it also carries costs as some stabilization may be feasible even in the absence of credibility, and this may be...
