On the Desirability of Supply-Side Intervention in a Monetary Union
This paper examines the desirability of supply-side intervention within a monetary union, given the constraints on monetary and fiscal policy, and compares it with an economic framework characterized by the independence of monetary policy. To this end, we first develop a simple two-country model in order to analyse in strategic terms how the authorities can deal with monetary, real and supply shocks, and the extent to which supply-side intervention may be useful to deal with these shocks. Next, we study whether the formation of a monetary union could be beneficial when there is coordination over labour market intervention.
|Date of creation:||2002|
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0003, Departamento de Economía - Universidad Pública de Navarra.
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- Carmen Díaz Roldán, 2000. "Supply policies coordination in a monetary union," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0004, Departamento de Economía - Universidad Pública de Navarra.
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