Using a simple macroeconomic two-country model, we analyze the possible structural reasons for which the European Central Bank might have a monetary policy different from the one pursued presently by the Bundesbank (implying a weaker or a stroger parity for the european currencies vis-a-vis the rest of the world).
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Paper provided by Caisse des Depots et Consignations - Cahiers de recherche in its series Papers with number
96-02/ei.
Length: 34 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:cadeco:96-02/ei
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Find related papers by JEL classification: F31 - International Economics - - International Finance - - - Foreign Exchange F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
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