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balances, the common monetary policy may not be optimal for all of them. Euro area imbalances for potential output and for …
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In this paper we argue that in contrast to the conclusion of Artis and Zhang, there is not much evidence in support of the view that increased exchange rate stability is related to more synchronised business cycles in Europe. This finding may have important consequences, as existing differences...
Persistent link: https://www.econbiz.de/10009781543
not yet adopted the Euro. The results show a significant and robust negative effect of fiscal indiscipline and …-industry trade as well as of the interactions between fiscal measures and non-Euro area membership. The study provides arguments for … fiscal policy harmonisation and fiscal discipline of the Euro area member as well as acceding countries, as undisciplined and …
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In this paper we argue that in contrast to the conclusion of Artist and Zhang, there is not much evidence in support of the view that increased exchange rate stability is related to more synchronised business cycles in Europe. This finding may have important consequences, as existing differences...
Persistent link: https://www.econbiz.de/10001474344