| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP219 |
| DP219 Monetary Discipline and Cooperation in the European Monetary System: A Synthesis | |
| Jacques MELITZ | |
| 发表日期 | 1988 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This paper tries to explain how, despite its fundamental asymmetry, the European Monetary System may benefit all its members. I argue that the high-inflation members obtain benefits of increased monetary discipline, while the others experience improvements in their international competitiveness. For the low-inflation members, moreover, the incentive to disinflate increases as a result of EMS membership. Finally, the benefits of membership for low-inflation countries are secure; for those with higher inflation, the gains from membership depend on a variety of factors whose net effect is uncertain. |
| 主题 | International Macroeconomics |
| 关键词 | Competitiveness European monetary system Incentives Monetary discipline |
| URL | https://cepr.org/publications/dp219 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529375 |
| 推荐引用方式 GB/T 7714 | Jacques MELITZ. DP219 Monetary Discipline and Cooperation in the European Monetary System: A Synthesis. 1988. |
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