Monetary Policy as an Optimum Currency Area Criterion

Autoren

• Groll
• D.

Erscheinungsdatum

JEL Classification

Schlagworte

Mehr zum Thema

Whether countries benefit from forming a monetary union depends critically on the way monetary policy is conducted. This is mainly because monetary policy determines whether and to what extent a flexible nominal exchange rate fosters or hampers macroeconomic stabilization, even if monetary policy does not target the nominal exchange rate explicitly.

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