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On the Feasibility of Monetary Union: Does It Make Sense to Look for Shocks Symmetry across Countries When None of the Countries Constitutes an Optimum Currency Area?

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Figure

  Figure 1
Table 3: The Sensitivity of Investment to Real Fund Rate
Figure 4 : Correlation of Non cumulative Response to One S.D. Monetary Policy                                       Innovation +/- 2 S.E
Table 4: The Averages of the Impulse Responses to US Monetary Policy Shock
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