Narrow search
Showing 1 - 10 of 1,976
Cover Image
Currency Unions
Alesina, Alberto - 2000
What is the optimal number of currencies in the world? Common currencies affect trading costs and, thereby, the amounts of trade, output, and consumption. From the perspective of monetary policy, the adoption of another country's currency trades off the benefits of commitment to price stability...
Persistent link: https://www.econbiz.de/10012470810
Cover Image
Fiscal Federalism and Optimum Currency Areas : Evidence for Europe From the United States
Sala-i-Martin, Xavier - 1991
The main goal of this paper is to estimate to what extent the federal government of the United States insures member states against regional income shocks. We find that a one dollar reduction in a region's per capita personal income triggers a decrease in federal taxes of about 34 cents and an...
Persistent link: https://www.econbiz.de/10012475134
Cover Image
Long-Run Determinants of Inflation Differentials in a Monetary Union
Altissimo, Filippo - 2005
some stylized facts relating the regional dispersion in headline inflation rates in the euro area as well as in the …
Persistent link: https://www.econbiz.de/10012467206
Cover Image
How Do Monetary and Fiscal Policy Interact in the European Monetary Union?
Canzoneri, Matthew B. - 2005
Formation of the Euro area raises new questions about the coordination of monetary and fiscal policy. Using a New …
Persistent link: https://www.econbiz.de/10012467632
Cover Image
Aftershocks of Monetary Unification : Hysteresis with a Financial Twist
Bayoumi, Tamim - 2017
currency area than the Euro Area. More intriguingly, the Euro Area shows striking changes in correlations and responses which … demand shocks to reinforce each other. An implication is that if the Euro Area wishes to avoid financial booms and busts it …
Persistent link: https://www.econbiz.de/10012455476
Cover Image
The European Union, the Euro, and Equity Market Integration
Bekaert, Geert - 2010
At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … between member countries whether or not members have also adopted the Euro. The Euro adoption as well as the anticipation of … the Euro adoption has minimal effects on market integration …
Persistent link: https://www.econbiz.de/10012462074
Cover Image
A Long Term Perspective on the Euro
Bordo, Michael D. - 2008
This study grounds the establishment of EMU and the euro in the context of the history of international monetary … for a more expansive monetary policy. Such demands might arise in some parts or regions or countries of the euro area, but …
Persistent link: https://www.econbiz.de/10012464832
Cover Image
The Euro and European Economic Conditions
Feldstein, Martin S. - 2011
exist in most Eurozone countries. Although the European Central Bank managed the euro in a way that achieved a low rate of …The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several …The emergence of these problems just a dozen years after the start of the euro in 1999 was not an accident or the …
Persistent link: https://www.econbiz.de/10012461040
Cover Image
Is Europe an Optimum Currency Area?
Eichengreen, Barry - 1991
An optimum currency area is an economic unit composed of regions affected symmetrically by disturbances and between which labor and other factors of production flow freely. The symmetrical nature of disturbances and the high degree of factor mobility make it optimal to forsake nominal exchange...
Persistent link: https://www.econbiz.de/10012475441
Cover Image
Participation in a Currency Union
Casella, Alessandra - 1990
When countries of different sizes participate in a cooperative agreement, the potential gain from deviation determines the minimum power that each country requires in the common decision-making. <br><bR>This paper studies the problem in the context of a monetary union - multiple countries sharing a...
Persistent link: https://www.econbiz.de/10012475817