Miles, William - In: European journal of comparative economics 18 (2021) 1, pp. 3-22
obligate Scotland to eventually join the euro common currency. If Scottish home prices were not highly cohesive with those in … Scottish economy. As an example, if most euro-country home values were rising, but those in Scotland were falling, the ECB … would likely run a tight monetary policy, which would be devastating to housing conditions in Scotland. We accordingly …