Euro Membership as a U.K. Monetary Policy Option: Results from a Structural Model
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Presented at the NBER conference “Europe and the Euro,” Bocconi University, Milan, October 16-17, 2008. We thank the conference organizers, Francesco Giavazzi and Alberto Alesina, and Carlo Favero, Richard Portes, Ulf Soderström, and other conference participants, as well as an anonymous referee, for comments on earlier drafts. We are indebted to Christopher Erceg, Christopher Gust, and David López-Salido for providing code. Charles Gascon, Luke Shimek, and Faith Weller provided research assistance. The views expressed in this paper are those of the authors and should not be interpreted as those of the Federal Reserve Bank of St. Louis, the Federal Reserve System, the Board of Governors, or the National Bureau of Economic Research.