Structural convergence under reversible and irreversible monetary unification

Roel M.W.J. Beetsma (Dutch Ministry of Economic Affairs and CEPR), Henrik Jensen (University of Copenhagen and EPRU)

We explore endogenous monetary unification in the context of a model in which a country with serious structural distortions (and, hence, high inflation) is admitted into a monetary union once its economic structure has converged sufficiently towards that of the existing participants. If unification is reversible, so that the new entrant can always be forced to leave the union again later, convergence stops for a while after the high inflation country has joined. With irreversible unification, temporary divergence occurs, and unification is most likely to be delayed.

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Year of publication:	1999 ; This version: February, 1999
Authors:	Beetsma, Roel ; Jensen, Henrik
Publisher:	Copenhagen, Denmark : Economic Policy Research Unit, Institute of Economics, University of Copenhagen
Subject:	Monetary unification \| structural distortions \| inflation \| convergence \| Währungsunion \| Monetary union \| Konvergenzkriterien \| Convergence criteria \| Strukturwandel \| Structural change \| Inflation \| Wirtschaftliche Anpassung \| Economic adjustment \| Theorie \| Theory

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Extent:	1 Online-Ressource (circa 29 Seiten) Illustrationen
Series:	Working paper series / Economic Policy Research Unit, Institute of Economics, University of Copenhagen. - Copenhagen : [Verlag nicht ermittelbar], ZDB-ID 2733585-9. - Vol. 1999, 06
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/81988 [Handle]
Classification:	E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; F33 - International Monetary Arrangements and Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011537161