Maza, Adolfo; Sanchez-Robles, Blanca - European Regional Science Association - 2002
According to the Theory of Optimal Currency Areas, one of the main costs that EMU may entail for countries and regions … is large, then a common policy designed by the ECB will have beneficial effects on the whole eurozone. Instead, if … adjustment mechanisms may not be very onerous. The common monetary policy implemented by the ECB will probably have similar …