Showing 1 - 5 of 5
Persistent link: https://www.econbiz.de/10009301252
Persistent link: https://www.econbiz.de/10003816076
We revisit the subject of country-level macroeconomic adjustment in the euro area in the absence of autonomous monetary and exchange rate policy. We discuss how the procyclical real interest rate mechanism and the competitiveness channel of adjustment interact with various aspects of...
Persistent link: https://www.econbiz.de/10013130702
Once a country joins a monetary union, an efficient competitiveness channel is considered to be the main substitute for the abandoned autonomous monetary and exchange rate policy. This paper attempts to make an empirical assessment of how the price competitiveness of domestic producers...
Persistent link: https://www.econbiz.de/10013008571
Persistent link: https://www.econbiz.de/10009631101