Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase

Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase
EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase. Speculative attacks against currencies which are in economic distress due to asymmetric shocks can still... READ MORE...

Publication date: June 1999
ISBN 9781451850529
$15.00

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