Adjusting Shocks Management in Euro Zone. The Asymmetrical Impact of the ECB Monetary Policy
The loss of the sovereign interest rate and exchange rate instruments is the main potential cost of joining a monetary union since it becomes more difficult to adjust swiftly to shocks. In the case of demand shocks that affect all countries more or less equally (symmetric shocks), the loss of moneta...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2006-08-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: | http://www.ectap.ro/articole/106.pdf |