Economic Integration, Asymmetries and the Desirability of a Monetary Union
Symmetry of shocks across countries is often considered as a necessary condition for a monetary union. We show that the measure of shocks symmetry does not reveal a deep parameter, and depends on economic integration. The more integrated economies are, the more aysmmetric are GDPs for a given set of sectoral shocks.
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|Date of creation:||1996|
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