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| Author | : Ferdinand Fichtner |
| Publisher | : |
| Total Pages | : 217 |
| Release | : 2008 |
| Genre | : Optimales Währungsgebiet - Währungsunion - Wohlfahrtseffekt - Offene Volkswirtschaft - Neue Makroökonomie - Stochastisches Modell |
| ISBN | : 9783832278069 |
| Author | : Mr.Robert P. Flood |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 1992-05-01 |
| Genre | : Business & Economics |
| ISBN | : 145184574X |
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.
| Author | : Mr.Leonardo Leiderman |
| Publisher | : International Monetary Fund |
| Total Pages | : 126 |
| Release | : 1997-06-17 |
| Genre | : Business & Economics |
| ISBN | : 9781557756527 |
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.
| Author | : Mario I. Bléjer |
| Publisher | : |
| Total Pages | : 123 |
| Release | : 1997 |
| Genre | : Monetary policy |
| ISBN | : |
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.
| Author | : Julius Horváth |
| Publisher | : |
| Total Pages | : 38 |
| Release | : 2003 |
| Genre | : Foreign exchange |
| ISBN | : 9789516868786 |
Tiivistelmä.
| Author | : Mr.Luca Antonio Ricci |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 1997-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1451849834 |
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.
| Author | : Mr.Tamim Bayoumi |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 1994-04-01 |
| Genre | : Business & Economics |
| ISBN | : 1451846177 |
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.
