A Model Of An Optimum Currency Area
DOWNLOAD
Download A Model Of An Optimum Currency Area PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get A Model Of An Optimum Currency Area book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
A Model Of An Optimum Currency Area
DOWNLOAD
Author : Mr.Luca Antonio Ricci
language : en
Publisher: International Monetary Fund
Release Date : 1997-06-01
A Model Of An Optimum Currency Area written by Mr.Luca Antonio Ricci and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-06-01 with Business & Economics categories.
This paper investigates the circumstances under which it is beneficial to participate in a currency area. A two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of real shocks, international factor mobility, fiscal adjustment, openness, difference in national inflationary biases, correlation of monetary shocks, and benefits of a single currency. The effect of openness on the net benefits is ambiguous, contrary to the usual argument that more open economies are better candidates for a currency area. Countries do not necessarily agree on whether a given currency union should be created.
A Formal Model Of Optimum Currency Areas
DOWNLOAD
Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 1994-04-01
A Formal Model Of Optimum Currency Areas written by Mr.Tamim Bayoumi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-04-01 with Business & Economics categories.
A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union.
A Model Of An Optimum Currency Area
DOWNLOAD
Author : Luca A. Ricci
language : en
Publisher:
Release Date : 2006
A Model Of An Optimum Currency Area written by Luca A. Ricci and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper investigates the circumstances under which it is beneficial to participate in a currency area. A two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of real shocks, international factor mobility, fiscal adjustment, openness, difference in national inflationary biases, correlation of monetary shocks, and benefits of a single currency. The effect of openness on the net benefits is ambiguous, contrary to the usual argument that more open economies are better candidates for a currency area. Countries do not necessarily agree on whether a given currency union should be created.
Optimum Currency Areas
DOWNLOAD
Author : Mr.Leonardo Leiderman
language : en
Publisher: International Monetary Fund
Release Date : 1997-06-17
Optimum Currency Areas written by Mr.Leonardo Leiderman and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-06-17 with Business & Economics categories.
Robert Mundell's pioneering theory of optimum currency areas is revisited, with experts from the IMF, the BIS, the European Investment Bank, academia, European think tanks, and the Bank of Israel looking at its current practical applications, especially in the context of the forthcoming European Economic and Monetary Union (EMU). Robert Mundell himself offers an update to help in assessing the implications and consequences of EMU.
The Theory Of Optimal Currency Areas Pros And Cons Of The Eurozone
DOWNLOAD
Author : Thorsten Mannherz
language : en
Publisher: GRIN Verlag
Release Date : 2017-10-17
The Theory Of Optimal Currency Areas Pros And Cons Of The Eurozone written by Thorsten Mannherz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-17 with Business & Economics categories.
Seminar paper from the year 2016 in the subject Economics - Finance, grade: 1,7, University of applied sciences, Cologne, course: Economics, language: English, abstract: On the 1st of January 1999, 11 European countries adopted the Euro as their official currency. A new Economic and Monetary Union with more than 300 million citizens was born. Sharing a common currency offers several advantages for countries, firms and citizens like enhanced cross-border trade, a better price transparency or the disappearance of foreign exchange rate risks. However, a Monetary Union also comes with constraints like the loss of exchange rate regime of its members which is an important instrument to fight adverse shocks. In order to minimize economic risks for its members and to foster the economic stability of the future European EMU, the European Union member states agreed to meet the Euro Convergence Criteria as a requirement to adopt the Euro. During the negotiations about the necessary criterion, the theory of Optimal Currency Areas – a theory which has its origin in the Bretton Woods era – was deliberately reincarnated by economists to verify whether or not the Eurozone can become a successful EMU. Until today the (traditional) OCA theory is often used by the literature and also by politicians to evince fundamental flaws of the Eurozone. This assignment investigates the Eurozone in the light of the theory of Optimal Currency Areas. In the first part of this assignment the main contributors to the theory of Optimal Currency Areas are enumerated and its most significant factors are explained. The second part applies the listed factors to the Eurozone in order to determine whether or not a specific criterion is fulfilled by the European EMU. A summary and conclusion complete this essay.
A Theory Of Optimum Currency Areas
DOWNLOAD
Author : Mr.Robert P. Flood
language : en
Publisher: International Monetary Fund
Release Date : 1992-05-01
A Theory Of Optimum Currency Areas written by Mr.Robert P. Flood and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-05-01 with Business & Economics categories.
Starting with Friedman and Mundell the academic literature has conducted a high level debate concerning the design of cross-country monetary arrangements. That debate has become very complex and the data requirements necessary for appropriate application of the principles developed are far beyond the means of the very nations for which the principles might be valuable. In this paper we return to the simplicity of the early arguments and formalize them in a way that may be helpful for currency area decisions where little is known about economic structure.
The Economics Of Common Currencies
DOWNLOAD
Author : Harry G. Johnson
language : en
Publisher: Routledge
Release Date : 2013-07-18
The Economics Of Common Currencies written by Harry G. Johnson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-18 with Business & Economics categories.
Gathering together the papers presented at the Madrid Conference on Optimum Currency Areas in 1970 this volume represents one of the first complete surveys of the theory and policy implication of monetary integration. The book discusses: the economics of fixed exchange rates relevant to monetary relations within an integrated monetary area the evolution of economic doctrine and a survey of optimum currency area theory problems of policy co-ordination within a currency area relevance of the monetary-fiscal policy mix problems of monetary union in developing countries the book predicted the establishment of an European currency but presented the case for greater flexibility of exchange rates as an alternative to currency unification.
A Theory Of Optimum Currency Areas
DOWNLOAD
Author : Robert A. Mundell
language : en
Publisher:
Release Date : 1961
A Theory Of Optimum Currency Areas written by Robert A. Mundell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with Currency question categories.
Optimum Currency Areas A Monetary Union For Southern Africa
DOWNLOAD
Author : Christian Sorgenfrei
language : en
Publisher: Diplomica Verlag
Release Date : 2011-03
Optimum Currency Areas A Monetary Union For Southern Africa written by Christian Sorgenfrei and has been published by Diplomica Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03 with Business & Economics categories.
With the current situation in the European Monetary Union in mind, a Monetary Union in other parts of the world seems highly inadvisable. Nevertheless, Africa has some of the oldest Monetary arrangements in the world, dating back to the beginning of the 19th century. Is Africa particularly qualified for a Monetary Union? And furthermore, what features are necessary to make Monetary Arrangements between countries endurable? This study evaluates the prospects and the feasibility of a monetary union in the Southern African Development Community (SADC) from an economic point of view. Both the theory of optimum currency areas and the recent example of the European Monetary Union are employed to analyze the pros and cons of monetary unification. The theoretical implications are operationalized, first, by a broad analysis of economic and socio graphic data, and second, by estimating the degree of structural shock synchronization between SADC countries. Results obtained by an Autoregressive and Vector Autoregressive model indicate that a monetary union which includes all SADC members is neither desirable nor feasible in the foreseeable future. However, the study concludes that a small subset of countries, including South Africa, Namibia, Swaziland, Lesotho, Mozambique, Botswana and Zambia, could gain from forming a smaller monetary union.
The Theory Of Optimum Currency Areas And Exchange Rate Flexibility
DOWNLOAD
Author : Edward Tower
language : en
Publisher:
Release Date : 1976
The Theory Of Optimum Currency Areas And Exchange Rate Flexibility written by Edward Tower and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Business & Economics categories.