Enlargement of the Economic and Monetary Union: To which Structurally Heterogeneous Countries?

Severine Menguy

International Economic Journal, 2010, vol. 24, issue 1, 53-70

Abstract: We study the consequences of the entry of a structurally heterogeneous country on the well-being of the current members of a monetary union. Welfare would be increased if the new country is more open, if it has a smaller sensibility of its demand to the interest rate, and also generally if its supply function has a lower sensibility to inflation.

Keywords: Euro-area; enlargement; monetary policy; fiscal policy; structural heterogeneity (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1080/10168731003589824

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