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Insurance mechanisms against asymmetric shocks in a monetary union: an application to the European Monetary Union
(1999) Documento de trabajo / Lan gaiak,
In this paper we offer a proposal of an automatic insurance mechanism designed to cope with asymmetric shocks in a monetary union. The mechanism would take as indicator the changes in the unemployment rate of the countries ...
International monetary policy coordination under asymmetric shocks
(2000) Documento de trabajo / Lan gaiak,
The purpose of this paper is to show whether international policy coordination may be the best response to economic interdependence. We will study the short-run interactions taking place among interdependent economies, ...