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Putting currency misalignment into gravity : the currency union effect reconsidered
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2012
Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent … within currency unions. Econometric estimation reveals that for the euro area the misalignment channel exerts a significant … demonstrate heterogeneous outlooks across countries for the costs and benefits from adopting the euro. -- Euro ; gravity model …
Persistent link: https://www.econbiz.de/10009530354
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Regional currency arrangements in North America
Arndt, Sven W. (contributor) - 2006
Choosing an exchange-rate regime is largely a matter of choosing the variables that will bear the brunt of adjustment to shocks and disturbances. Floating rates, supported by inflation-targeting regimes of varying degrees of transparency, have dominated currency arrangements in North America,...
Persistent link: https://www.econbiz.de/10003503562
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Exchange rate volatility and choice of anchor currency : prospects for a Melanesian currency union
Lahari, Willie - 2011
This paper investigates an appropriate choice of anchor currency for a proposed Melanesian currency union under various hypothetical currency union arrangements. Drawing from the optimal currency area (OCA) theory and related extensions, the analysis focuses on the effects of a currency union on...
Persistent link: https://www.econbiz.de/10009409641
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Regional Currency Arrangements in North America
Arndt, Sven W. - 2008
Choosing an exchange-rate regime is largely a matter of choosing the variables that will bear the brunt of adjustment to shocks and disturbances. Floating rates, supported by inflation-targeting regimes of varying degrees of transparency, have dominated currency arrangements in North America,...
Persistent link: https://www.econbiz.de/10014058195
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Regional Currency Arrangements in North America
Arndt, Sven W. - 2022
On February 24-25, 2006 an international workshop on “Regional and International Currency Arrangements” was held in Vienna. It was co-sponsored by the Oesterreichische Nationalbank and the Bank of Greece, and jointly organized by Eduard Hochreiter and George Tavlas. Academic economists and...
Persistent link: https://www.econbiz.de/10014080661
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Readdressing the trade effect of the Euro : allowing for currency misalignment
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2010
We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common … estimates of the euro effect on trade based on misalignment. This reveals asymmetric trade effects and heterogeneous outlooks … across countries for the costs and benefits from adopting the euro. -- Euro ; gravity model ; exchange rates ; purchasing …
Persistent link: https://www.econbiz.de/10003961504
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Readdressing the Trade Effect of the Euro : Allowing for Currency Misalignment
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2010
We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common … estimates of the euro effect on trade based on misalignment. This reveals asymmetric trade effects and heterogeneous outlooks … across countries for the costs and benefits from adopting the euro …
Persistent link: https://www.econbiz.de/10014195259
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Is the Eurozone on the mend? : Latin American examples to analyze the euro question
Cavallo, Eduardo A.; Fernández Arias, Eduardo; Powell, … - 2014
economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …
Persistent link: https://www.econbiz.de/10011286667
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Emu and Transatlantic Exchange Rate Stability
Mojon, Benoit; Bénassy-Quéré, Agnès - 2000
The impact of EMU on the transatlantic exchange rate stability raises the more general question of whether the exchange rate is a useful adjustment instrument or source of instability. We estimate a simple, three-country model for the United States, Germany and France, over the 1972-1995 period....
Persistent link: https://www.econbiz.de/10014181129
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How to Stabilize Financial Markets Before Emu
Frachot, Antoine - 1998
A recent report from the Center for Economic Policy Research (CEPR) has advocated that fixed conversion rates for the start of EMU should be preannounced as soon as possible. The aim of this short paper is to focus on the potential dangers of such a decision. Indeed, the CEPR report propositions...
Persistent link: https://www.econbiz.de/10014220781