For instance, it is to be expected that a "shock-induced" acceleration of price rises will lessen the competitiveness of the economy in question, and thus trigger an adjustment process that ultimately reduces the growth advantage. Asymmetrical shocks are not the only potential cause of cyclical divergences in a monetary union.
Speed of response, given the level of  1  Shadow Gn 2009 is a meeting of a group of international experts and policy makers which is part of the International Policy Dialogue on International Governance Issues, a private sector funded organization operating under the auspices of Columbia University.