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One-size-fits-all monetary policy: Europe and the U.S

Janet Koech and Mark Wynne ()

Economic Letter, 2012, vol. 7, issue sep, No 9

Abstract: The ongoing euro-area crisis is seen by many as vindication of skeptics who said that a monetary union encompassing a disparate group of countries is doomed to fail because the countries do not constitute what economists call an optimum currency area. Thus, they argued, a one-size-fits-all monetary policy that goes with participation in an alliance such as the European Economic and Monetary Union (EMU) creates strains that ultimately prove insurmountable.

Keywords: Europe - Economic conditions; Economic and Monetary Union (search for similar items in EconPapers)
Date: 2012
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