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Journal of Economic Integration 1997 June;12(2) :131-140.
DOI: https://doi.org/10.11130/jei.1997.12.2.131
Asymmetric Shocks Inside Future EMU
Michel Beine and 
Alain Hecq 
University of Lille II
Maastricht University
Copyright ©1997 Journal of Economic Integration
ABSTRACT
roux and Peaucelle [1989, 1993], we propose a new method which, unlike the analysis of Bayoumi and Eichengreen [1992], does not require any arbitrary restrictions. As a whole, our results support the idea of a two-speed Europe. (JEL Classification: C22, F33, F42)
 
REFERENCE
1. E i c h e n g reen, B. [1990], "One Money for Europe? Lessons from the U.S. Currency Union," Economic Policy, No. 10, April.
2. Artis, M. et W. Zhang [1995], "International Business Cycles and the ERM: Is there a European Business Cycle?," CEPR Discussion Paper, N o . 1191.
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