Coudert, Virginie; Couharde, Cécile; Mignon, Valérie - Centre d'études prospectives et d'informations … - 2012
Although nominal parities have been completely pegged within the euro area since the launch of the single currency … appreciation in the peripheral countries. In this paper, we assess real exchange rate misalignments for euro area countries by … misalignments have been increased on average for all euro area countries since the monetary union, while becoming more persistent …