A journey down the slippery slope to the European crisis: a theorist's guide

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Title:	A journey down the slippery slope to the European crisis: a theorist's guide
Author:	Chari, V. V.; Dovis, Alessandro; Kehoe, Patrick J.
Abstract:	We offer a theoretically based narrative that attempts to account both for the formation of the European Monetary Union and the callenges it has faced. Lack of commitment to policy plays a central role in this narrative.
Abstract:	The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
Subject(s):	-Monetary Union -Eurozone crisis -European Monetary Union -Time Inconsistency -Bailouts -Lender of last resort
Rights:	This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed. http://creativecommons.org/licenses/by/4.0/
Document type:	Working Paper
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