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Europe and the Euro
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Europe and the Euro

Alberto Alesina and Francesco Giavazzi

Abstract

It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the ... More

Keywords: euro, policy change, exchange of goods, exchange of money, exchange of people, trade, economic shocks

Bibliographic Information

Print publication date: 2010 Print ISBN-13: 9780226012834
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226012858.001.0001

Authors

Affiliations are at time of print publication.

Alberto Alesina, editor

Francesco Giavazzi, editor

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