Structural reforms and the enlargement of monetary union

Carsten Hefeker

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate country. While monetary union lowers reforms in the candidate country, members of the monetary union will increase their reforms efforts. The paper then proceeds to derive the conditions if and when the countries agree to an enlargement of the monetary union.

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Year of publication:	2000
Authors:	Hefeker, Carsten
Publisher:	Munich : Univ., Center for Economic Studies
Subject:	Währungsunion \| Monetary union \| EU-Mitgliedschaft \| EU membership \| Wirtschaftsreform \| Economic reform \| Inflationserwartung \| Inflation expectations \| Geldpolitik \| Monetary policy \| Neue politische Ökonomie \| Public choice \| Theorie \| Theory \| Europäische Union \| Inflation \| Erweiterung