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Is A 2-Speed System in Uerope the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control?

Author

Listed:
  • Hallett, A-H
  • Demertzis, M
  • Rummel, O

Abstract

The Maastricht Treaty assumes that a small "credible" group of countries will be able to adopt a single currency by the 1st of January, 1999, while the remainder retain their national monetary instruments. In this paper we accept the core/periphery distinction and examine the correlation and symmetry of shocks within and between groups. We discover that the core is no more an Optimal Currency Area than the periphery.

Suggested Citation

  • Hallett, A-H & Demertzis, M & Rummel, O, 1997. "Is A 2-Speed System in Uerope the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control?," Papers 22, American Institute for Contemporary German Studies-.
    • Handle: RePEc:fth:amiger:22
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    Citations

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    Cited by:

    1. Vladimir Chaplygin & Andrew Hughes Hallett & Christian Richter, 2006. "Monetary integration in the ex‐Soviet Union: A ‘union of four’?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 14(1), pages 47-68, March.
    2. Libero Monteforte & Stefano Siviero, 2010. "The economic consequences of euro-area macro-modelling shortcuts," Applied Economics, Taylor & Francis Journals, vol. 42(19), pages 2399-2415.

    More about this item

    Keywords

    EUROPE ; MONETARY UNION;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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