2008 | OriginalPaper | Buchkapitel
Monetary Policy in Europe
Erschienen in: Inflation and Unemployment in a Monetary Union
Verlag: Springer Berlin Heidelberg
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For ease of exposition we make the following assumptions. The monetary union consists of two countries, say Germany and France. The member countries are the same size and have the same behavioural functions. An increase in European money supply raises producer inflation in Germany and France, to the same extent respectively. Here producer inflation in Germany refers to the price of German goods. Similarly, producer inflation in France refers to the price of French goods.