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The Suitability of a Greater China Currency Union
Cheung, Yin-Wong - 2013
The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of a Greater China currency union. Currently, the three economies have extensive trade and investment linkages. Our analyses show that these...
Persistent link: https://www.econbiz.de/10012754602
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Fiscal Rules, Financial Stability and Optimal Currency Areas
De Grauwe, Paul - 2015
In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co … conclude that the intense fiscal rules that have been introduced in the Eurozone after the emergence of the debt crisis reduced …
Persistent link: https://www.econbiz.de/10013020581
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Monetary Union, Even Higher Integration, or Back to National Currencies?
Economides, George - 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/10012996680
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The Exchange Rate Susceptibility of Some European Core Industries and the Currency Union
Leuwer, David; Suessmuth, Bernd - 2021
This paper investigates the relationship between real exchange rate changes and the German, French and UK automobile and mechanical engineering sector. In stylized models, exports decline whenever the domestic currency appreciates and vice versa. Strategic firm behavior, however, can obscure the...
Persistent link: https://www.econbiz.de/10013315771
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The UK and the EMU
Artis, Michael J. - 2000
Persistent link: https://www.econbiz.de/10001546463
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Oil and Vinegar : A Positive Fiscal Theory of the Euro Crisis
Blankart, Charles B. - 2013
The theory of optimal currency areas states that a currency union may succeed if the participating countries have complementary industry structures. If this is not the case a currency union does not, inevitably, have to fail because market forces will induce adjustments of the industry...
Persistent link: https://www.econbiz.de/10013074396
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How to Be Well Shod to Absorb Shocks? Shock Synchronization and Joining the Euro Zone
Gilson, Natacha (Nathalie) - 2021
This paper examines the demand and supply shocks observed in the present Eurozone member states and those observed in … some neighboring countries. The analysis is based on recent data and each Eurozone member country is compared with an … aggregate series corresponding to an area made up of the entire Eurozone minus the country being compared. The results of the …
Persistent link: https://www.econbiz.de/10013317269
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Fiscal Transfers in a Monetary Union with Exit Option
Hefeker, Carsten - 2015
It is widely debated whether a monetary union has to be accompanied by a fiscal transfer scheme to accommodate asymmetric shocks. We build a model of a monetary union with a central bank and two heterogeneous countries that are linked by a fiscal transfer scheme with repercussions on monetary...
Persistent link: https://www.econbiz.de/10013025966
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The endogeneity of the optimum currency area criteria, trade, and labor market rigidities : implications for EMU enlargement
Fidrmuc, Jarko (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002377396
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Macroeconomic shocks in Euroland vs. the UK : supply, demand, or nominal?
Funke, Michael - 2000
Persistent link: https://www.econbiz.de/10001546478