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Federal Reserve Bank of Dallas
Economic Letter
One-size-fits-all monetary policy: Europe and the U.S.
Mark A. Wynne
Janet Koech
Abstract

The ongoing euro-area crisis is seen by many as vindication of skeptics who said that a monetary union encompassing a disparate group of countries is doomed to fail because the countries do not constitute what economists call an optimum currency area. Thus, they argued, a one-size-fits-all monetary policy that goes with participation in an alliance such as the European Economic and Monetary Union (EMU) creates strains that ultimately prove insurmountable.


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Mark A. Wynne & Janet Koech, "One-size-fits-all monetary policy: Europe and the U.S." , Federal Reserve Bank of Dallas, Economic Letter, volume 7, number 9, 2012.
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Keywords: Economic and Monetary Union ; Europe - Economic conditions
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