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Structural Reforms and the Enlargement of Monetary Union

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  • Carsten Hefeker

Abstract

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural refoms in the (low distortion) member countries and the (high distortion) candidate country. While monetary union lowers reforms in the candidate country, members of the monetary union will increase their reform efforts. The paper then proceeds to derive the conditions if and when the countries agree to an enlargement of the monetary union.

Suggested Citation

  • Carsten Hefeker, 2000. "Structural Reforms and the Enlargement of Monetary Union," CESifo Working Paper Series 270, CESifo.
    • Handle: RePEc:ces:ceswps:_270
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    Cited by:

    1. Carsten Hefeker, 2002. "Lohnpolitik und Geldpolitik in Euroland," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 71(3), pages 354-367.
    2. Carsten Hefeker, 2006. "EMU Enlargement, Policy Uncertainty and Economic Reforms," CESifo Working Paper Series 1767, CESifo.

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