|Appears in Collections:||Economics Journal Articles|
|Peer Review Status:||Refereed|
|Title:||EMU and the regional impact of monetary policy|
|Author(s):||Rodriguez-Fuentes, Carlos J|
|Citation:||Rodriguez-Fuentes CJ & Dow S (2003) EMU and the regional impact of monetary policy. Regional Studies, 37 (9), pp. 969-980. https://doi.org/10.1080/0034340032000143959|
|Abstract:||EMU and the regional impact of monetary policy, Reg. Studies 37, 969- 980. In this paper we focus on a topic which has been attracting renewed interest because of monetary unification in Europe: the regional dimension of national monetary policies. Most of the debate over the regional implications of the Euro has been developed within the Optimum Currency Area framework. According to this theory, European monetary policy would have regional effects when the countries of the Euro-zone had such structural differences as to produce asymmetric shocks. These asymmetrical effects could only be offset by labour mobility and wage/price flexibility. However, we argue here that, in addition, European monetary policy may have more general regional effects, including in particular by producing a higher instability in the pattern of credit availability for some peripheral regions. This latter possibility, and the forces underlying it, are explored here both at the theoretical level and the empirical level, examining the process by which monetary policy is transmitted.|
|Rights:||The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.|
|2003 Dow Rodriguez Fuentes EMU Reg Studies.pdf||Fulltext - Published Version||115.12 kB||Adobe PDF||Under Embargo until 2993-07-01 Request a copy|
Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependent on the depositor still being contactable at their original email address.
This item is protected by original copyright
Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.
The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved https://creativecommons.org/publicdomain/zero/1.0/
If you believe that any material held in STORRE infringes copyright, please contact firstname.lastname@example.org providing details and we will remove the Work from public display in STORRE and investigate your claim.