Aucremanne, L.; Boeckx, J.; Dury, D.; Ide, S. - In: Economic Review (2008) IV, pp. 21-44
of monetary union from a number of angles. Monetary policy under EMU managed to secure historically low inflation … globalisation, inflation expectations remained well-anchored at levels consistent with price stability. The high degree of price … stability did not come at a cost in terms of less stable economic activity as both inflation and output volatility have declined …