Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40274
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dc.contributor.authorCornelius, Peter K.en_US
dc.contributor.authorTrimbur, Thomasen_US
dc.date.accessioned2010-07-27en_US
dc.date.accessioned2010-09-24T14:29:49Z-
dc.date.available2010-09-24T14:29:49Z-
dc.date.issued2000en_US
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_US
dc.language.isoengen_US
dc.publisher|aDeutsche Bank Research |cFrankfurt a. M.en_US
dc.relation.ispartofseries|aResearch notes in economics & statistics |x00-1en_US
dc.subject.jelE42en_US
dc.subject.ddc330en_US
dc.subject.keywordEMUen_US
dc.subject.keywordmonetary disintegrationen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwSeparatismusen_US
dc.subject.stwInflationsbekämpfungen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwNationalstaaten_US
dc.subject.stwTheorieen_US
dc.subject.stwEU-Staatenen_US
dc.titleHeterogeneous policy responses and the risk of monetary disintegration in Europeen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn821872702en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:dbrrns:001-

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