Andersen, Torben M. (contributor); … - 2008
, participation in a currency union and the implied loss of auton-
omy in monetary policy require that labour markets are �exible in … with heterogeneous labour
markets
Consider a monetary union where the central bank has the monetary authority
over I … perfectly competitive and
prices to be �exible. Labour markets, in contrast, are imperfectly competitive
and have nominal …