DANTHINE, Jean-Pierre; Giavazzi, Francesco; Thadden, … - Swiss Finance Institute - 2000
after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has … that this is less due to the well-known direct effects of EMU, such as the elimination of intra- European currency risk …, than to a number of indirect consequences through feedback mechanisms that seem to have been triggered by EMU. …