Duwicquet, Vincent; Mazier, Jacques; Saadaoui, Jamel - In: Revue de l'OFCE N° 127 (2013) 1, pp. 57-96
The euro zone crisis illustrates the insufficiency of adjustment mechanisms in a monetaryunion characterized by a large heterogeneity. Firstly, the paper gives an evaluationof exchange rate misalignments inside the euro zone, using a FEER approach(Jeong et ali., 2010). Usingpanel econometric...