One-size-fits-all monetary policy: Europe and the U.S
AbstractThe ongoing euro-area crisis is seen by many as vindication of skeptics who said that a monetary union encompassing a disparate group of countries is doomed to fail because the countries do not constitute what economists call an optimum currency area. Thus, they argued, a one-size-fits-all monetary policy that goes with participation in an alliance such as the European Economic and Monetary Union (EMU) creates strains that ultimately prove insurmountable.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Dallas in its journal Economic Letter.
Volume (Year): (2012)
Issue (Month): Sep ()
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