A country which decides to join a Monetary Union expects a decreased ability to stabilize its output around the full employment level and keep

A country which decides to join a Monetary Union expects a decreased ability to stabilize its output around the full employment level and keep inflation low compared with its initial ability under flexible exchange rates.

A country which decides to join a Monetary Union expects a decreased ability to stabilize its outputaround the full employment level and keep inflation low compared with its initial ability under…