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The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is … crisis therapy puts a drag on long-term growth by conserving distorted economic structures. To preserve political stability a …
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Optimum currency area : currency area composition and exchange-rate regimes-theory and evidence reconciled -- Measuring the sacrifice ratio : some international evidence / with Kai Leitemo -- Regional labor market adjustment in Norway
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Whether countries benefit from forming a monetary union depends critically on the way monetary policy is conducted. This is mainly because monetary policy determines whether and to what extent a flexible nominal exchange rate fosters or hampers macroeconomic stabilization, even if monetary...
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exchange rate regimes have proven to be highly crisis prone. The paper argues that the unholy trinity analysis doesn't imply …
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