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The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural refoms in the (low distortion) member countries and the (high distortion) candidate country. While monetary union lowers reforms in the candidate country, members of the monetary...
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management of short-run inflation. (2) The CEMAC region is more inclined to non-traditional policy regimes while the UEMOA zone …
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' inflation aversion and exit costs. …
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combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary …
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