asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of … perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations …

The European sovereign debt crisis revived the discussion concerning pros and cons of exchange rate adjustment in the … competitiveness. In the spirit of Schumpeter, exhange rate stability with structural reforms would be beneficial towards the long … of exchange rate stability exhibit a higher long-term growth performance. In line with Mundell (1961), we show that the …

The European sovereign debt crisis revived the discussion concerning pros and cons of exchange rate adjustment in the … competitiveness. In the spirit of Schumpeter, exhange rate stability with structural reforms would be beneficial towards the long … of exchange rate stability exhibit a higher long-term growth performance. In line with Mundell (1961), we show that the …

asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of … perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations …

asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of … perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations …

asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of … perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations …

disturbing factor of a generally stable real economy (Wicksell, Hayek, Schumpeter, Fisher, and the early Keynes). Thereafter …