Leaving EMU: a real options perspective
نویسندگان
چکیده
منابع مشابه
Leaving EMU: a real options perspective
We examine the real option implicit in a country’s decision of whether to leave an existing monetary union when there is uncertainty over the future benefits of this move. Our theoretical model is calibrated for the current Euro-12 area by proxying policymakers’ inflation preferences with unemployment rates and debt-to-GDP ratios. We observe a robust group of countries that would choose to rema...
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ژورنال
عنوان ژورنال: Applied Economics
سال: 2005
ISSN: 0003-6846,1466-4283
DOI: 10.1080/00036840500166308