Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/40274 
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dc.contributor.authorCornelius, Peter K.en
dc.contributor.authorTrimbur, Thomasen
dc.date.accessioned2010-07-27-
dc.date.accessioned2010-09-24T14:29:49Z-
dc.date.available2010-09-24T14:29:49Z-
dc.date.issued2000-
dc.identifier.urihttp://hdl.handle.net/10419/40274-
dc.description.abstractLeaving EMU would create great legal uncertainty and costly litigation and would hence involve extremely high costs for a country that has fully been euronized. Nevertheless, it is conceivable that these costs are not high enough to eliminate fully the risk of monetary disintegration in Europe. In assessing this risk, the paper distinguishes several exit scenarios, whereby particular emphasis is paid to the case where a country decides unilaterally to leave EMU either because of the lack of stabilization efforts in the rest of the union, or, in turn, due to union-wide stabilization efforts which are regarded as excessively ambitious. The empirical results suggest heterogeneous policy responses to macroeconomic strains, implying a non-trivial possibility of escalating tension among the EMU members.en
dc.language.isoengen
dc.publisher|aDeutsche Bank Research |cFrankfurt a. M.en
dc.relation.ispartofseries|aResearch Notes |x00-1en
dc.subject.jelE42en
dc.subject.ddc330en
dc.subject.keywordEMUen
dc.subject.keywordmonetary disintegrationen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwSeparatismusen
dc.subject.stwInflationsbekämpfungen
dc.subject.stwFinanzpolitiken
dc.subject.stwNationalstaaten
dc.subject.stwTheorieen
dc.subject.stwEU-Staatenen
dc.titleHeterogeneous policy responses and the risk of monetary disintegration in Europe-
dc.typeWorking Paperen
dc.identifier.ppn821872702en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:dbrrns:001en

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