Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75675
Authors: 
Inklaar, Robert
de Haan, Jakob
Year of Publication: 
2000
Series/Report no.: 
CESifo Working Paper 268
Abstract: 
In this paper we argue that in contrast to the conclusion of Artis and Zhang, there is not much evidence in support of the view that increased exchange rate stability is related to more synchronised business cycles in Europe. This finding may have important consequences, as existing differences in business cycles in the EMU-countries may not disappear due to further monetary integration, making a common monetary policy hazardous.
Subjects: 
Business cycles
ERM
EMU
Document Type: 
Working Paper

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