Creel, Jérôme; Sterdyniak, Henri - Sciences économiques, Sciences Po - 1998
This paper deals with Euro introduction and ask whether it is likely to increase the exchange rates volatility on a … (flexible, EMS or EMU). Each country is represented by two authorities: a central bank and a government (a single central bank … and two governments in Europe in the case of EMU). Within this framework, we compute Nashequilibria. In theory, the …