2008 | OriginalPaper | Buchkapitel
The Countries Differ in Size
Erschienen in: Inflation and Unemployment in a Monetary Union
Verlag: Springer Berlin Heidelberg
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In this chapter we assume that the countries only differ in size. To be more specific, we assume that the German economy is large and the French economy is small. More precisely, we assume that full-employment output in Germany is large and full-employment output in France is small. An increase in European money supply raises producer inflation in Germany and France, to the same extent respectively.