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Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...
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's implicit aversion towards inflation varies with income and other socio-economic characteristics. While inflation aversion …, these relationships apply not only to absolute inflation aversion, but also to the aversion towards inflation relative to … suggest that different dimensions of being disadvantaged influence the well-being effects of inflation in different ways. …
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