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Modelling the Eurozone as an extraordinary exchange rate union

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Is the Eurozone not a monetary union, but an extraordinary exchange rate union?

Sauer, Beate; Sell, Friedrich L. - 2013

The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union or a system of fixed exchange rates than a monetary...

Persistent link: https://www.econbiz.de/10009751600