Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm K. - Wirtschaftswissenschaftlichen Fakultät, … - 2012
Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent … within currency unions. Econometric estimation reveals that for the euro area the misalignment channel exerts a significant … demonstrate heterogeneous outlooks across countries for the costs and benefits from adopting the euro. …