01638cas a2200253 a 4500 AALejournalIMF000142 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848632 1018-5941 BD-DhAAL BD-DhAAL Thomas, Alun. Relative Prices and Economic Adjustment in the U.S. and the EU : A Real Story About European Monetary Union / Alun Thomas, Tamim Bayoumi. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Structural vector autoregressions are used to analyze the relationship between real output and relative prices within the EU and the United States, Relative price variability appears to be more important for adjustment within the EU than the United States, reflecting the lower integration of goods and factor markets. In the absence of higher market integration, the lower relative price variability implied by the introduction of a single currency in the EU could well cause significant economic disruption. Mode of access: Internet Bayoumi, Tamim. IMF Working Papers; Working Paper ; No. 1994/065 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/065/001.1994.issue-065-en.xml IMF e-Library