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Does the common currency promote goods market integration within the EMU? We argue that such an effect is likely, but that the mechanism typically proposed – lover costs of arbitrage because of increased price transparency – is likely to be of minor importance. Instead we sketch a duopoly model which stresses that lover possibility of future real exchange rate variability lowers the option valu...
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ژورنال
عنوان ژورنال: Journal of Law and Commerce
سال: 2021
ISSN: ['2164-7984', '0733-2491']
DOI: https://doi.org/10.5195/jlc.2021.212