Price adjustment in currency unions: another dimension to the endogeneity of the optimum currency area criteria?
In a rational expectations model, wages and prices should respond more to shocks in currency unions than under adjustable pegs because of the absence of exchange rate adjustment. This is an aspect of the endogeneity of the optimum currency area criteria that has been largely ignored. Empirical evide...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2018
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| Online Access: | http://eprints.nottingham.ac.uk/49791/ http://eprints.nottingham.ac.uk/49791/ http://eprints.nottingham.ac.uk/49791/ http://eprints.nottingham.ac.uk/49791/1/OBESfinal.pdf |