Christev, Atanas; Melitz, Jacques - C.E.P.R. Discussion Papers - 2010
This empirical study of the impact of EMU on capital market integration and consumption smoothing comes to three … conclusions: first, EMU promotes members’ holdings of foreign assets and foreign liabilities; second, no benefits of consumption … smoothing result; third, EU membership, not a single money, nevertheless increases consumption smoothing. The source of this …