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. First, the paper develops stylised facts of mobility at the national and sub-national levels in the EU. Then, it explores …
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, since it prevents the national fiscal authorities from pursuing independent policies, opening the way to a coordination prob-lem …
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regions sharing trade links and a common monetary framework. In our New Keynesian DSGE model with search and matching …
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Country-specific business cycle fluctuations are potentially very costly for member states of currency unions because they lack monetary autonomy. The actual costs depend on the extent to which consumption is shielded from these fluctuations and thus on the extent of risk sharing across member...
Persistent link: https://www.econbiz.de/10013235109
Country-specific business cycle fluctuations are potentially very costly for member states of currency unions because they lack monetary autonomy. The actual costs depend on the extent to which consumption is shielded from these fluctuations and thus on the extent of risk sharing across member...
Persistent link: https://www.econbiz.de/10012494920