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We reassess the result of unsustainability of the euro with respect to inflation differentials claimed by Wickens (2007) by specifying an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result by Wickens does not hold in general. We are able to derive a...
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seems as if there is an alternative. But what? The Eurozone is in a deep and prolonged crisis. It is now clear that monetary … source of the Eurozone crisis -- The stock-flow quandry of the EMU -- European and global inability to deal with external …
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Üblicherweise werden drei Wege unterschieden, wie einzelne Länder der Eurozone ihre preisliche Wettbewerbsfähigkeit … Variante nominaler Abwertung ist politisch attraktiver als ein Austritt aus der Eurozone, weil sie mit geringeren operativen …
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