Eser, Fabian - Economics Group, Nuffield College, University of Oxford - 2009
participation (AMP) becomes a key parameter. While monetary policy can guarantee determinacy by following an active or passive rule … failure of risk sharing, determinacy for union-aggregates does not guarantee determinacy in every member country. However, the … determinacy. For complete openness, determinacy is guaranteed. This underlines the importance of risk sharing and trade …