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Should-Read: Tamim Bayoumi and Barry Eichengreen (1992): Shocking Aspects of European Monetary Unification

Should-Read: Tamim Bayoumi and Barry Eichengreen (1992): Shocking Aspects of European Monetary Unification: “Data on output and prices for 11 EC member nations… http://www.nber.org/papers/w3949

…aggregate supply and demand disturbances… a VAR decomposition…. Underlying shocks are significantly more idiosyncratic across EC countries than across US regions, which may indicate that the EC will find it more difficult to operate a monetary union. However a core… Germany and her immediate neighbors… shocks of similar magnitude and cohesion as the US regions. EC countries also exhibit a slower response to aggregate shocks than US regions, presumably reflecting lower factor mobility…

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Should-Read: Tamim Bayoumi and Barry Eichengreen (1992): Shocking Aspects of European Monetary Unification

May 4, 2017

AUTHORS:

May 4, 2017

AUTHORS:

U.S. economic mobility trends and outcomes

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon