01786cas a2200241 a 4500 AALejournalIMF009437 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451867312 1018-5941 BD-DhAAL BD-DhAAL Stavrev, Emil. Growth and Inflation Dispersions in EMU : Reasons, the Role of Adjustment Channels, and Policy Implications / Emil Stavrev. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (26 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 This paper's analysis of growth and inflation dispersions in the euro area reveals several findings. First, these dispersions have declined appreciably since EMU; remaining dispersions are small but persistent, relating mainly to country-specific shocks, not differences in the transmission of common shocks. Second, the different behavior of interest rates just before and after the introduction of the euro has contributed significantly to growth dispersions. However, this has been a one-off shock whose effects, particularly on construction, should be declining over time. Third, financial sector integration could do much more to insure countries against shocks and increase consumption smoothing. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2007/167 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/167/001.2007.issue-167-en.xml IMF e-Library