An eminent macroeconomist recently wrote: Moving toward a monetary union by adopting a common currency is not

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An eminent macroeconomist recently wrote: "Moving toward a monetary union by adopting a common currency is not really about the currency. The most important factor is that countries in the union must agree on a single monetary policy for the entire region." Explain this statement. Why might adopting a single monetary policy cause troubles?
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Economics

ISBN: ?978-0073511290

19th edition

Authors: Paul A. Samuelson, William Nordhaus

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