As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...

Aufgrund des Balassa-Samuelson-Effekts werden die Länder im Euro-Gebiet in Zukunft sehr verschiedene Inflationsraten aufweisen. Wie auch immer das Inflationsziel der Europäische Zentralbank aussieht, es wird Länder mit Inflationsraten unter und über diesem Ziel geben. Nach unseren...

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...

Aufgrund des Balassa-Samuelson-Effektes werden die Länder im Euro-Gebiet in Zukunft sehr verschiedene Inflationsraten aufweisen. Wie auch immer das Inflationsziel der Europäischen Zentralbank aussieht, es wird Länder mit Inflationsraten unter und über diesem Ziel geben. Nach unseren...