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• W3124084865 abstract "We explore the impact of European monetary union (EMU) on the economies of the member countries. While the annual dispersion in inflation rates have not been much different to the variation across US regions, inflation differentials in the euro area have been much more persistent, such that cumulative intra-EMU real exchange rate movements have been quite substantial. EMU has indeed contributed to greater economic integration - however, economic linkages with the rest of the world have also been growing strongly, such that the relative importance of intra-EMU trade has not dramatically increased. In terms of future risks, a severe economic downturn or financial crisis in a member country will be the proving ground for the political viability of EMU." @default.
• W3124084865 created "2021-02-01" @default.
• W3124084865 creator A5007059951 @default.
• W3124084865 date "2006-04-05" @default.
• W3124084865 modified "2023-09-27" @default.
• W3124084865 title "The Real Effects of EMU" @default.
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• W3124084865 hasPublicationYear "2006" @default.
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