EMU membership anchors prices & dampens country-specific uncertainty. More in our new column 👇
A monetary union shapes the impact of economic #uncertainty on its member countries by providing a nominal anchor that effectively eliminates price level #risk from country-specific uncertainty. @bborn.bsky.social, Luis Huxel, Gernot Müller, Johannes Pfeifer cepr.org/voxeu/column... #EconSky