why all the country value are not same? why
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High labor mobility across regions. If there is a recession in one region and people can move to another one as a response, then monetary policy is less important in adjusting to the shock, as labor itself adjusts. This is a reason why countries can usually have the same currency within their whole territory.
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The regions should have similar business cycles. As mentioned, if the countries tend to experiene similar shocks, then they will require the same monetary policy. In that case there is no reason for them to have different currencies!
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