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Economic Integration, Asymmetries and the Desirability of a Monetary Union
( Martine Carre ),( Sandrine Levasseur ),( Franck Portier ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2000 Journal of Economic Integration Vol.15 No.2
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 asymmetric are GDPs for a given set of sectoral shocks. (JEL Classifications: E3, F15)
Economic Integration, Asymmetries and the Desirability of a Monetary Union
Carre´, Martine,Levasseur, Sandrine,Portier, Franck 세종대학교 국제경제연구소 2000 Journal of Economic Integration Vol.15 No.2
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 asymmetric are GDPs for a given set of sectoral shocks.