Optimal sequencing to reform the European economic and Monetary Union: a roadmap
In this paper, we examine the political gridlock in reforming the Economic and Monetary Union. We utilize a two–stage game with imperfect information in order to study the optimal sequencing. The main results are: first, optimal sequencing requires for incompliant Member States a default option in s...
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| Format: | Article |
| Language: | English |
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AIMS Press
2021-05-01
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| Series: | Quantitative Finance and Economics |
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| Online Access: | https://www.aimspress.com/article/doi/10.3934/QFE.2021014?viewType=HTML |