In this chapter we assume that the countries only differ in behaviour. To be more specific, we assume that the countries only differ in monetary policy multipliers. An increase in European money supply lowers the rate of unemployment in Germany to a large extent. By contrast, it lowers the rate of unemployment in France to a small extent.
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© 2008 Springer-Verlag Berlin Heidelberg
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(2008). The Countries Differ in Behaviour. In: Inflation and Unemployment in a Monetary Union. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-79301-4_14
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DOI: https://doi.org/10.1007/978-3-540-79301-4_14
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-79300-7
Online ISBN: 978-3-540-79301-4
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