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Journal of Economic Integration 2000 June;15(2) :345-354.
DOI: https://doi.org/10.11130/jei.2000.15.2.345
Economic Integration, Asymmetries and the Desirability of a Monetary Union
Martine Carré
Sandrine Levasseur and 
Franck Portier 
Euréqua - Université de Paris I and Crest
Care - Université de Rouen
Gremaq, Leerna & Idei, Université des Sciences Sociales de Toulouse
Copyright ©2000 Journal of Economic Integration
ABSTRACT
Symmetry of shocks across countries is often considered as a necessary condition for a monetary union. We show that the measure of shocks symmetry does not reveal a deep parameter, and depends on economic integration. The more integrated economies are, the more asymmetric are GDPs for a given set of sectoral shocks. (JEL Classifications: E3, F15) <
Keywords: M
 
REFERENCE
1. Krugman, P. [1991], Geography and Trade. MIT Press, Cambridge, Mass.
2. Eichengreen, B. [1990], "One Money for Europe? Lessons from the US Currency Union," Economic Policy 10; pp. 119-87.
3. Helg, R., P. Manasse, T. Monacelli, and R. Rovelli [1995], "How much (A)symmetry in Europe? Evidence from Industrial Sectors," European Economic Review 39; pp. 1017-1041.
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