Working Paper BETA #2005-06

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Title : Is Monetary Union Necessarily Counterproductive ?

Author(s) : Giuseppe DIANA, Blandine ZIMMER

Abstract : This paper analyses the case of a monetary union between identical countries characterised by oligopolistic competition in their labour market. It suggests that the switch to a common currency may improve their macroeconomic performances depending on labour market features.

Key-words : Monetary Union, Employment, Inflation.

JEL Classification : E24, F33, J51.