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German unification and the European monetary system: a quantitative analysis

Author

Listed:
  • Gwyn Adams
  • Lewis S. Alexander
  • Joseph E. Gagnon

Abstract

This paper uses a macroeconomic model with rational expectations to analyze issues related to German unification. A principal focus of the paper is the effect of unification on member countries of the European Monetary System. Under certain conditions, German unification has a contractionary effect on other EMS countries. We explore the implications for EMS and other countries of alternative German fiscal and monetary policies.

Suggested Citation

  • Gwyn Adams & Lewis S. Alexander & Joseph E. Gagnon, 1992. "German unification and the European monetary system: a quantitative analysis," International Finance Discussion Papers 421, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgif:421
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    Cited by:

    1. Ruiz Estrada, Mario Arturo & Park, Donghyun, 2008. "Korean unification: How painful and how costly," Journal of Policy Modeling, Elsevier, vol. 30(1), pages 87-100.
    2. Hans-Werner Sinn, 1996. "International Implications of German Unification," NBER Working Papers 5839, National Bureau of Economic Research, Inc.
    3. Joseph E. Gagnon & Paul R. Masson & Warwick J. McKibbin, 2019. "German Unification: What Have We Learned from Multi-Country Models?," World Scientific Book Chapters, in: Macroeconomic Modelling and Monetary and Exchange Rate Regimes, chapter 4, pages 101-140, World Scientific Publishing Co. Pte. Ltd..
    4. Edwin M. Truman, 2014. "The Federal Reserve engages the world (1970-2000): an insider's narrative of the transition to managed floating and financial turbulence," Globalization Institute Working Papers 210, Federal Reserve Bank of Dallas.
    5. Mario Arturo Ruiz Estrada & Donghyun Park, 2014. "China’s Unification: Myth or Reality?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(4), pages 441-469, September.
    6. Robert Brooks & Robert Faff & David Sokulsky, 2005. "The stock market impact of German reunification: international evidence," Applied Financial Economics, Taylor & Francis Journals, vol. 15(1), pages 31-42.

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