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Monetary union, even higher integration, or back to national currencies?

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2016

This paper quantifies the welfare differences among a monetary union, flexible exchange rates (economic disintegration) and a monetary plus fiscal transfer union (higher economic integration). The vehicle of analysis is a medium-scale New Keynesian DSGE model consisting of two heterogeneous...

Persistent link: https://www.econbiz.de/10011430977

Monetary and economic union in West Africa : an analysis on trade

Mensah, Isaac - In: International journal of business and economic sciences … 8 (2015) 2, pp. 87-118

Purpose-This paper makes an analysis of trade in the WAMZ as well as the WAMZ's trade with other countries in West Africa, Europe and Asia based on the Optimal Currency Area (OCA) theory. This theory first proposed by Mundell (1961) as a basis for evaluating whether or not an area constitutes an...

Persistent link: https://www.econbiz.de/10011434010

Budget-neutral fiscal rules targeting inflation differentials

Brede, Maren - 2016

In light of persistent in ation dispersion and rising debt levels in the EMU, this paper investigates the welfare implications of budget-neutral scal policies that counteract in ation di erentials. In a two-country DSGE model of a monetary union with traded and non-traded goods a national scal...

Persistent link: https://www.econbiz.de/10011437921

Geldpolitik im heterogenen Währungsraum und die offene Frage der Konvergenz

Afflatet, Nicolas - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 96 (2016) 3, pp. 193-197

Innerhalb einer Währungsunion ist eine souveräne nationale Geldpolitik nicht möglich. Solange die einzelnen Länder sich … in verschiedenen ökonomischen Situationen befi nden, wirkt sich auch die gemeinsame Geldpolitik unterschiedlich aus. Sind … die Länder zu heterogen, kann die gemeinsame Geldpolitik zu verstärkter Divergenz führen. Der Autor hat die Entwicklung …

Persistent link: https://www.econbiz.de/10011440590

Two monetary unions

Scharrer, Hans-Eckart - In: Intereconomics : review of European economic policy 25 (1990) 3, pp. 109-110

Persistent link: https://www.econbiz.de/10011546301

Common European monetary policy with different financial structures

Gruber, Torsten; Ohr, Renate - In: Intereconomics : review of European economic policy 32 (1997) 1, pp. 3-7

Persistent link: https://www.econbiz.de/10011546792

Scandinavia's monetary convergence with the European Community

Duijm, Bernhard; Nürk, Bettina - In: Intereconomics : review of European economic policy 27 (1992) 1, pp. 38-43

In the twelve months preceding the conclusion by the EFTA countries and the EC of the agreement on the establishment of a common European Economic Area in October 1991, the three Scandinavian EFTA members - Norway, Finland and Sweden - decided to tie their currencies to the ECU. What objectives...

Persistent link: https://www.econbiz.de/10011546936

Reforming the European Monetary System

Neumann, Manfred J. M. - In: Intereconomics : review of European economic policy 29 (1994) 2, pp. 55-58

The extreme widening of the exchange rate margins last summer has transformed the EMS from a multilateral fixed rate system into a system of unilateral exchange rate pegging. Professor Neumann characterises the current state of the EMS, outlines the major defects of the system and makes some...

Persistent link: https://www.econbiz.de/10011548028

Real and monetary policy convergence : EMU crisis to the CFA Zone

Asongu, Simplice A. - 2012

Purpose - A major lesson of the EMU crisis is that serious disequilibria result from regional monetary arrangements not designed to be robust to a variety of shocks. The purpose of this paper is to assess these disequilibria within the CEMAC, UEMOA and CFA zones. Design/methodology/approach - In...

Persistent link: https://www.econbiz.de/10011410050

Are proposed African monetary unions optimal currency areas? : real, monetary and fiscal policy convergence analysis

Asongu, Simplice A. - 2012

Purpose - A spectre is hunting embryonic African monetary zones: the EMU crisis. This paper assesses real, monetary and fiscal policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East Africa is facing stiff challenges in the timing of...

Persistent link: https://www.econbiz.de/10011410252

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