Federal Reserve Bank of Dallas
One-size-fits-all monetary policy: Europe and the U.S.
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.
Cite this item
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.
Keywords: Economic and Monetary Union ; Europe - Economic conditions
This item with handle RePEc:fip:feddel:y:2012:i:sep:n:v.7no.9
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