Abstract
1) Introduction. For ease of exposition we make the following assumptions. The monetary union consists of three countries, say Germany, France and Italy. The member countries are the same size and have the same behavioural functions. An increase in European money supply raises German output, French output, and Italian output, to the same extent respectively. In the numerical example, an increase in European money supply of 100 raises German output, French output, and Italian output by 100 each.
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© 2007 Springer-Verlag Berlin Heidelberg
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(2007). Monetary Policy in Europe. In: Macroeconomics of Monetary Union. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-73633-2_12
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DOI: https://doi.org/10.1007/978-3-540-73633-2_12
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-73632-5
Online ISBN: 978-3-540-73633-2
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