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Ricci, Luca Antonio - Institut für Weltwirtschaft (IfW) - 2007

This paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of...

Persistent link: https://www.econbiz.de/10005083391

Financial Dollarization and Currency Substitution. An Empirical Study for Bolivia America than in Asia?

Dell'Erba, Salvatore; Zambrana, Martin Saldías - Institut für Weltwirtschaft (IfW) - 2006

The Bolivian puzzle is high and persistent financial dollarization notwithstanding deep macroeconomic stabilization that achieved stable and low inflation and the regulations encouraging domestic currency deposits. We analyze traditional and new approaches to explain dollarization in Bolivia. We...

Persistent link: https://www.econbiz.de/10005755109

Alternative Paths Towards EMU: Lessons from an Expanded Mundell-Fleming Model for the Accession Countries

Souza, Lúcio Vinhas de; Ledrut, Elisabeth - Institut für Weltwirtschaft (IfW) - 2002

A small expectations-expanded "Mundell-Fleming" model is built for the European Union Accession Countries and estimated to assess the optimality of different exchange rate regimes (a peg and a float) through a simple welfare function. Floating appears as the best option for most of the countries...

Persistent link: https://www.econbiz.de/10005076124

Inflation Targeting Is a Success, So Far: 100 Years of Evidence from Swedish Wage Contracts

Fregert, Klas; Jonung, Lars - Institut für Weltwirtschaft (IfW) - 2008

, inflation targeting gained instant credibility in the sense that the labor market organizations entered long-term wage …

Persistent link: https://www.econbiz.de/10005083376

Gaining credibility and enhancing economic growth through regional integration: The case for EU membership of Eastern Europe

Piazolo, Daniel - Institut für Weltwirtschaft (IfW) - 1997

countries (CEECs) can potentially enhance the credibility of their governments' policies through institutional integration with … the EU. The paper discusses the credibility problems faced by the CEECs and shows how EU membership will enhance the … institutional setting and the governments' credibility. Based on regression results between an indicator of institutional change and …

Persistent link: https://www.econbiz.de/10009276477