Is A 2-Speed System in Uerope the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control?

Andrew Hughes Hallett, Maria Demertzis and Ole Rummel

Working Papers from American Institute for Contemporary German Studies-

Abstract: The Maastricht Treaty assumes that a small "credible" group of countries will be able to adopt a single currency by the 1st of January, 1999, while the remainder retain their national monetary instruments. In this paper we accept the core/periphery distinction and examine the correlation and symmetry of shocks within and between groups. We discover that the core is no more an Optimal Currency Area than the periphery.

Keywords: EUROPE; MONETARY UNION (search for similar items in EconPapers)
JEL-codes: F33 (search for similar items in EconPapers)
Pages: 71 pages
Date: 1997
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:amiger:22

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