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 of currencies required among the 192 U.N. members to...

This paper examines the mechanism of persistent inflation differentials, current account imbalances, and fiscal deficits in the euro area by constructing a multi-country model in which the optimization behaviors of governments as well as those of households, firms, and the European Central Bank...

This paper theoretically examines a way out of the euro crisis based on a model of inflation acceleration and differentials. The conclusion is that, unless more advantaged states (e.g., Germany) systematically transfer a necessary amount of money to less advantaged states (e.g., Greece) in every...

Some countries may face choice between targeting inflation independently and entering a monetary union that targets inflation. This paper shows that the choice of a country in favour of monetary union may be motivated by asymmetrical supply shocks. The demand shocks are neutralised under these...

In contrast to Robert Mundell‘s Optimum Currency Area theory and his recommendation of forming a monetary union, the economic fundamentals of Euro area member countries have not harmonized. The opposite holds: the Euro core countries - most of all Germany, but also the Netherlands and Finland...

The aim of this overview article is to examine and assess monetary issues crucial for the Economic and Monetary Union (EMU) entry strategy. The optimum currency area (OCA) criteria are not used in assessing Polish suitability for the EMU, as they were not decisive in the process of the EMU...

We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex-change rate regimes. Strategic complementarities...

This paper reviews the growing body of evidence on the relative economic standing of different regions of the world in the late eighteenth and early nineteenth centuries. In general, it does not find support for Eurocentric claims regarding Western Europe’s early economic lead. The Eurocentric...

The dissertation is dedicated to specific processes of regional economic integration in Africa. The main goal is to assess systematically the development and potential of regional economic communities in Africa through: - systematization of factors that influence the motivation of developing...