Focuses on the proposed European currency unit. Exchange rate; Monetary policy; History of monetary unions; Potential gains from monetary union; Surrounding monetary independence; Stabilizing factors; Incentives for monetary restraint.
Applies the aggregation theoretic framework to money holdings of European residents. Definition of the Divisia index; How the European Divisia was derived; Analysis of the Divisia index and the simple-sum measure of European money.
PRICE inflation, MONETARY unions, NATIONAL currencies, EUROPEAN currency unit, CURRENCY question, INTERNATIONAL economic integration, MONEY, EURO
Abstract
Presents a documentation of the behavior of inflation dispersion and inflation differentials in Euro-area countries before and after the introduction of the Euro. Details on the process of European monetary union; Discussion on the currency union and inflation differentials; Adoption of the Euro and the behavior of inflation.
Published
2003
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