Relative Prices and Economic Adjustment in the U.S. and the EU: A Real Story About European Monetary Union
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Bibliographische Detailangaben
Beteilige Person: Thomas, Alun H. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 1994
Schriftenreihe:IMF Working Papers Working Paper No. 94/65
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Abstract:Structural vector autoregressions are used to analyze the relationship between real output and relative prices within the EU and the United States, Relative price variability appears to be more important for adjustment within the EU than the United States, reflecting the lower integration of goods and factor markets. In the absence of higher market integration, the lower relative price variability implied by the introduction of a single currency in the EU could well cause significant economic disruption
Umfang:1 Online-Ressource (36 p)
ISBN:1451848633
9781451848632