In what has become a traditional approach, the economics of monetary union in Europe is now commonly analyzed in terms of costs and benefits. This approach has the advantage of using a format that is generally understood by economists and others alike to emphasize the general fact that everything has a cost, and proper consideration of a proposed project needs to assess the costs as well as the benefits. In addition, such an approach holds the promise that a rational decision can be forthcoming if the costs and benefits are correctly identified and measured.
KeywordsEurope Income Assure Agglomeration Volatility
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