Politique monétaire en union monétaire et en change flexible: une approche analytique

Daniel Laskar

Annals of Economics and Statistics, 2007, issue 86, 149-185

Abstract: Using a two-country model of the "New Open-Economy Macroeconomics" which is analytically solved through a second-order approximation, we consider optimal monetary policies in a monetary union and in a flexible exchange rate regime. Comparing these two regimes, we show that a monetary union is preferred in case of mark-up shocks which affect price determination, and that the symmetry or asymmetry of shocks is not necessarily relevant anymore.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2007:i:86:p:149-185

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