Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76534
Authors: 
Hefeker, Carsten
Year of Publication: 
2003
Series/Report no.: 
CESifo Working Paper 1057
Abstract: 
The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the monetary union will increase their reform efforts. The paper also derives the conditions under which countries agree to an enlargement of monetary union.
Subjects: 
monetary union
asymmetric shocks
inflation
structural reforms
convergence
Document Type: 
Working Paper

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