EMU, Adjustment, and Exchange Rate Variability

EMU, Adjustment, and Exchange Rate Variability
This paper uses a three-country, three-good, factor-specific model of trade with wage rigidities to investigate how European Monetary Union (EMU) is likely to affect exchange rate variability. Focusing on international macroeconomic adjustment under both exogenous and optimizing monetary policies, it shows that the relative variability (against... READ MORE...

Publication date: January 1998
ISBN 9781451846942
$15.00

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