Grauwe, Paul de; Sénégas, Marc-Alexandre - In: Économie et Prévision 173 (2006) 2, pp. 27-41
[eng] This paper examines, from a theoretical standpoint, how uncertainty affects the choice between a federal monetary policy based on national data and a policy based on union-wide aggregated data in a monetary union with asymmetrical monetary-policy transmission. We find that when additive...