Brzoza-Brzezina, Michał; Makarski, Krzysztof; … - In: Economic Modelling 41 (2014) C, pp. 66-79
Giving up an independent monetary policy and a flexible exchange rate are the key aspects of joining a monetary union. In this paper we analyse how joining the euro area would have affected the Polish business cycle during the recent financial crisis. To this end we construct a small open...