| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP555 |
| DP555 Is Europe an Optimum Currency Area? Evidence from Regional Data | |
| Paul De Grauwe; Wim Vanhaverbeke | |
| 发表日期 | 1991-05-30 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | In this paper we contrast regional and national data on real exchange rate movements, the growth rates of output and employment, labour mobility and unemployment. We find that asymmetric shocks tend to be more prevalent at the regional than at the national level in Europe. The presumption of the optimum currency area literature holds relatively well, i.e. the adjustment mechanism at the national level involves very little mobility of labour and substantially more real exchange rate variability. At the regional level the opposite holds, although we find some role for real exchange rate adjustments. Finally, we identify two models of regional integration, a `Northern' and a `Southern' one. Implications for monetary union in Europe are drawn. |
| 主题 | International Macroeconomics |
| 关键词 | Monetary union Optimum currency area |
| URL | https://cepr.org/publications/dp555 |
| 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/529706 |
| 推荐引用方式 GB/T 7714 | Paul De Grauwe,Wim Vanhaverbeke. DP555 Is Europe an Optimum Currency Area? Evidence from Regional Data. 1991. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
