On the benefits of a monetary union: does it pay to be bigger?
This paper revisits the question of the appropriate domain of a currency area using a New-Keynesian open economy model in which the world is split into two areas, each framed as a continuum of small open regions. We show that the adoption of a common currency like the euro can be beneficial for the...
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| Format: | Article |
| Language: | English |
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2015-11.
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| Online Access: | Get fulltext Get fulltext |