The findings of the paper point to the fact that the fixed exchange rate regimes did not operateas an effective shield of protection from currency strains and transformational recessions.

This paper provides empirical evidence on the effectiveness of movements in nominal exchange rates in smooting cyclical imbalances between countries, as explained by the literature on optimal currency areas.

This paper reviews the dollarization and currency substitution literature with special regard to its implications for Ghana. It assesses the significance of dollarization in Ghana relative to the experience of other countries and with regard to evidence of increased use of foreign currency in...

In collaboration with the Economic and Financial section of the League of Nation in Geneva, International Labour Organisation built a programme focusing on the causes of economic fluctuations and the monetary policies necessary to counter these fluctuations. Indeed, the view form the Geneva was...

As memories of the East Asian crises of 1997-1998 recede, attention has shifted back to the traditional problems of macroeconomic management in a small open economy. A key question, in this regard, is the appropriate choice of exchange rate regime. While the East Asian crises cased some...

The findings of the paper point to the fact that the fixed exchange rate regimes did not operateas an effective shield of protection from currency strains and transformational recessions.

This paper addresses the variety of static and dynamic impacts that the Euro-Med Agreements (EMA) may have on the MENA economies. It first considers options for trade and domestic policy reforms, including the context in which policies are designed and implemented and the range of policy options...

This paper provides empirical evidence on the effectiveness of movements in nominal exchange rates in smooting cyclical imbalances between countries, as explained by the literature on optimal currency areas.

This study measures the proportion of U.S. exchange rate movements that can be accounted for by movements in relative prices of non-traded goods.