Heterogeneity, convergence and imbalances in the Euro area
The inception of the euro allowed countries from the periphery to experience a large fall in the cost of borrowing. Lower nominal rates were only partially offset by lower inflation rates. We rationalize this real interest rate reversal using a two-region model of a monetary union where, consistentl...
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| Hoofdauteurs: | , |
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| Formaat: | Article ou chapitre numérique |
| Taal: | Français |
| Gepubliceerd in: |
2022
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| Onderwerpen: | |
| Online toegang: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |