Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase:
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Bibliographic Details
Main Author: Thode, Eric (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 1999
Series:IMF Working Papers Working Paper No. 99/83
Links:http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
http://elibrary.imf.org/view/IMF001/05567-9781451850529/05567-9781451850529/05567-9781451850529.xml
Abstract:EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase. Speculative attacks against currencies which are in economic distress due to asymmetric shocks can still happen. A speculative attack as such cannot force a country out of EMU. However, the country concerned might voluntarily decide to leave the system as the costs of staying inside EMU, e.g., due to further rising unemployment, become too large to bear
Physical Description:1 Online-Ressource (33 p)
ISBN:1451850522
9781451850529