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Optimum Currency Areas

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Optimum Currency Areas

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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.

A Formal Model Of Optimum Currency Areas

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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

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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.

Optimum Currency Areas A Monetary Union For Southern Africa

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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.

Optimum Currency Areas

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Author : Mario I. Bléjer
language : en
Publisher:
Release Date : 1997

Optimum Currency Areas written by Mario I. Bléjer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Monetary policy categories.

A Theory Of Optimum Currency Areas

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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

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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.