Economic Integration, Asymmetries and the Desirability of a Monetary Union

Martine Carré, Sandrine Levasseur and Franck Portier ()

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: Symmetry of shocks across countries is often considered as a necessary condition for a monetary union. We show that the measure of shocks symmetry does not reveal a deep parameter, and depends on economic integration. The more integrated economies are, the more aysmmetric are GDPs for a given set of sectoral shocks.

Keywords: ECONOMIC INTEGRATION; MONETARY UNION; INFORMATION (search for similar items in EconPapers)
JEL-codes: E3 F15 (search for similar items in EconPapers)
Date: 1996

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Persistent link: http://EconPapers.repec.org/RePEc:fth:pariem:96.54

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