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Zoekopdracht: faculteit: "FEB" en publicatiejaar: "2003"

AuteursR.M.W.J. Beetsma, H. Jensen
TitelStructural convergence under reversible and irreversible monetary unification
TijdschriftJournal of International Money & Finance
Jaargang22
Jaar2003
Nummer3
Pagina's417-439
ISSN0261-5606
FaculteitFaculteit Economie en Bedrijfskunde
Instituut/afd.FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM)
TrefwoordenMonetary unification; Structural distortions; Inflation; Convergence
BasisclassificatieE61; E63; F33
SamenvattingWe explore endogenous monetary unification in the context of a model in which a country with serious structural distortions (and, hence, high inflation) is admitted into a monetary union once its economic structure has converged sufficiently towards that of the existing participants. If unification is reversible, so that the new entrant can always be forced to leave the union again later, convergence stops for a while after the high-inflation country has joined. With irreversible unification, in contrast, temporary divergence occurs, and unification will be delayed
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