Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103763
Authors: 
Groll, Dominik
Year of Publication: 
2014
Series/Report no.: 
Kiel Working Paper 1969
Abstract: 
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.
Subjects: 
monetary union
macroeconomic stabilization
welfare analysis
optimum currency area theory
trade openness
JEL: 
F33
F41
E52
Document Type: 
Working Paper

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