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Enlargement of the Economic and Monetary Union: To which Structurally Heterogeneous Countries?

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  • Severine Menguy

Abstract

We study the consequences of the entry of a structurally heterogeneous country on the well-being of the current members of a monetary union. Welfare would be increased if the new country is more open, if it has a smaller sensibility of its demand to the interest rate, and also generally if its supply function has a lower sensibility to inflation.

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  • Severine Menguy, 2010. "Enlargement of the Economic and Monetary Union: To which Structurally Heterogeneous Countries?," International Economic Journal, Taylor & Francis Journals, vol. 24(1), pages 53-70.
    • Handle: RePEc:taf:intecj:v:24:y:2010:i:1:p:53-70
    DOI: 10.1080/10168731003589824
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    References listed on IDEAS

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