The launch of the economic and monetary union in Europe and the 1997 financial crisis that underscored the disadvantages of currently employed exchange rate regimes raised questions about the feasibility of a similar monetary unification project for East Asia. Being one of the most dynamically...

Intra-trade among ASEAN countries have remained around 20% over the period 1993 until 2001 (ASEAN Secretariat). With this significant amount of trade being conducted between members of ASEAN countries, businesses were faced with exchange rate exposure due to the volatility of the exchange rate...

PAPER REMOVED AT THE REQUEST OF THE AUTHOR - 10/18/07.

This paper presents the theoretical and empirical aspects of a monetary union between Brazil and Argentina based on the concept of Optimal Monetary Union. The behavior of some Brazilian and Argentinean macroeconomic indicators such as total debt, public deficit, interest rate and inflation rate...

This thesis examined the extent to which there is convergence in inflation rates,interest rates and incomes in the Common Monetary Area (CMA). It alsoinvestigated if countries in the area exhibit asymmetric adjustments to aggregateshocks. Based on optimum currency area theory, lack of...

This dissertation studies the Economic and Monetary Union (EMU) and itseffects on foreign exchange markets and corporate cash holdings. These two potentialeffects are examined in the dissertation in two separate essays.The first essay examines the validity of the purchasing power parity...

The transmission of monetary and fiscal policies in an international context is one of the most prominent topics in the realm of international finance. In particular, researchers are interested in the effects of the respective policy on exchange rate movements, international price level...

In der vorliegenden Arbeit beschäftige ich mich mit der theoretischen Analyse von Geld- und Fiskalpolitik in Currency-Board-Systemen und der Währungsunion. Beide Währungssysteme haben seit den neunziger Jahren zunehmend an Bedeutung gewonnen, Currency Boards durch die Rückgewinnung der...

We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates among the leading currencies is attainable. We show that a stable equilibrium can be reached in the case of two leading currencies, but not in the case of three. In our model,...

Motivation of virtually all regional economic integration (REI) initiatives has been prospect of enhanced economic growth. Although REI's role in contributing to growth and development was recognised and acknowledged, its importance in Africa has never been properly outlined. Theoretical...