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Designing the Policy Mix in a Monetary Union
Kempf, Hubert - 2020
This paper studies the design of the policy mix in a monetary union, that is, the institutional arrangement specifying the relationships between the various policymakers present in the union and the extent of their capacity of action. It is assumed that policymakers do not cooperate. Detailing...
Persistent link: https://www.econbiz.de/10012832189
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The Worst of Both Worlds : Fiscal Policy and Fixed Exchange Rates
Born, Benjamin - 2019
Under fixed exchange rates, fiscal policy is an effective tool. According to classical views because it impacts the real exchange rate, according to Keynesian views because it impacts output. Both views have merit because the effects of government spending are asymmetric. A spending cut lowers...
Persistent link: https://www.econbiz.de/10012859987
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The Single Global Currency - Common Cents for Business
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2007
"3-G" world. It's common cents. …
Persistent link: https://www.econbiz.de/10005836848
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The Single Global Currency - Common Cents for Commerce
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2008
Global Monetary Union. In short, a "3-G" world. It's common cents. Much further research is needed to identify the benefits …
Persistent link: https://www.econbiz.de/10005617198
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Financial frictions and inflation differentials in a monetary union
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...
Persistent link: https://www.econbiz.de/10010274902
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A risk allocation approach to optimal exchange rate policy
Mundaca, B. Gabriela; Strand, Jon - 2004
We derive the optimal exchange rate policy for a small open economy subject to terms-oftrade shocks. Firm owners and workers are risk averse but workers more so. Wages are given or partially indexed in the short run, and capital markets are imperfect. The government sets the exchange rate to...
Persistent link: https://www.econbiz.de/10010261106
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The effect of monetary unification on public debt and its real return
Beetsma, Roel; Vermeylen, Koen - 2005
We explore the implications of monetary unification for real interest rates and (relative) public debt levels. The adoption of a common monetary policy renders the risk-return characteristics of the participating countries more similar, so that the substitutability of their public debt increases...
Persistent link: https://www.econbiz.de/10010261138
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The single global currency - common cents for the world (2008 Edition)
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2009
Abstract This is the 2008 Edition of one of only two book in print in the world about the Single Global Currency, and … is the only book in the world priced in 141 currencies (down from 147 in the 2006 edition.).This number is significant … the world - trillions. The multicurrency foreign exchange trading system was developed about 2,500 years ago to enable …
Persistent link: https://www.econbiz.de/10005835646
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The Single Global Currency - Common Cents for the World (2007 Edition)
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2007
This is the 2007 Edition of the only book in print in the world about the Single Global Currency, and is the only book … in the world priced in 143 currencies (down from 147 in the 2006 edition.).This number is significant, as it's the number … describes the origins of the current worldwide foreign exchange system, and tells how to change it; and save the world …
Persistent link: https://www.econbiz.de/10005621973
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The Single Global Currency: Common Cents for the World
Bonpasse, Morrison - Volkswirtschaftliche Fakultät, … - 2006
This is the only book in print in the world about the single global currency, and is the only book in the world priced …; and save the world - trillions. The multicurrency foreign exchange trading system was developed about 2,500 years ago to … currency. In a 3-G world with a single global currency managed by a global central bank within a global monetary union …
Persistent link: https://www.econbiz.de/10005787163