Strobel, Frank - In: Applied Economics 37 (2005) 13, pp. 1449-1453
The real option implicit in a country's decision of whether to leave an existing monetary union when there is … area by proxying policymakers' inflation preferences with unemployment rates and debt-to-GDP ratios. A robust group of … countries is observed that would choose to remain within EMU consisting of Belgium, Finland, Greece and Italy; France and Spain …