Dornbusch, Rudiger; Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 1998
early on. We show how conducting a European monetary policy is very different from living under the protective umbrella of … critical factor for the success of the new institution. We also ask how a single monetary policy – a common change in the …, as the ‘Lucas principle’ suggests, the wage-price process itself will adapt to the changing focus of European monetary …