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Creation and evolution of European economic and monetary union : lessons for Asian economic integration
Subramanian, Muthurangam; Taghizadeh-Hesary, Farhad; … - 2020
This paper reviews the creation and evolution of the European Economic Monetary Union (EEMU) and discusses the insights and perspectives of the key lessons for Asian economic integration utilizing an extensive review of the literature method. In order to implement a common monetary and economic...
Persistent link: https://www.econbiz.de/10012212663
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International trade and monopolistic competition without CES: Estimating translog gravity
Novy, Dennis - 2010
This paper derives a micro-founded gravity equation in general equilibrium based on a translog demand system that … allows for endogenous markups and rich substitution patterns across goods. In contrast to standard CES-based gravity … to be zero. I test the translog gravity equation and find strong empirical support in its favor. In an application to the …
Persistent link: https://www.econbiz.de/10010270479
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Currency unions, trade, and heterogeneity
Chen, Natalie; Novy, Dennis - 2018
How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation …
Persistent link: https://www.econbiz.de/10011867116
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Euro's influence upon trade: Rose effect versus border effect
Cafiso, Gianluca - 2008
by means of a gravity model for bilateral trade flows using a panel of manufacture exports among twenty-four OECD …
Persistent link: https://www.econbiz.de/10011604987
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Potential Currency Areas in East Asia Using United States, Japan, or China as the Monetary Anchor
Quah, Chee-Heong - 2011
The paper applies fuzzy clustering techniques to developed and emerging economies in East Asia in order to arrive at an identification of potential subgroups of economies for monetary union. The statistical criteria employed are those suggested by the Optimal Currency Areas theory and the period...
Persistent link: https://www.econbiz.de/10013128278
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The Case for Monetary Union in East Asia : From Theory to Empirics
Quah, Chee-Heong - 2010
Among others, this paper presents the case for fixed exchange rates and monetary union in East Asia, the underlying motivation behind the rising interest on optimum currency areas (OCAs) in the Asian context. The paper also explicitly proposes the dollar as the monetary anchor. Twenty empirical...
Persistent link: https://www.econbiz.de/10013150565
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The Euro's Influence Upon Trade : Rose Effect Versus Border Effect
Cafiso, Gianluca - 2009
by means of a gravity model for bilateral trade flows using a panel of manufacture exports among twenty-four OECD …
Persistent link: https://www.econbiz.de/10013154597
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Euro's Influence upon Trade : Rose Effect versus Border Effect
Cafiso, Gianluca - 2008
by means of a gravity model for bilateral trade flows using a panel of manufacture exports among twenty-four OECD …
Persistent link: https://www.econbiz.de/10012770431
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A Diagnostic on the West African Monetary Union
Quah, Chee-Heong - 2014
Deploying the classical optimum currency areas (OCA) theory and recent developments in the monetary literature, this paper evaluates the appropriateness of West African Monetary Union (WAEMU) as a monetary zone. Nine macroeconomic dimensions are investigated under which the first four items are...
Persistent link: https://www.econbiz.de/10013043456
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Assessing the Feasibility of Malaysia to Join the Singapore-Brunei Monetary Union
Quah, Chee-Heong - 2010
This paper attempts to assess the feasibility of Malaysia to rejoin the monetary union with Singapore and Brunei which it left in 1973 in terms of the real convergence criteria suggested by optimum currency areas (OCA) theory and the nominal convergence criteria specified by the Maastricht...
Persistent link: https://www.econbiz.de/10013141801