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How to increase the value of bilateral trade? : currency union versus fixed exchange rate regime
Stoykova, Oleksandra Ivanievna - In: Entrepreneurial business and economics review : EBER 9 (2021) 2, pp. 21-38
Objective: The objective of the article is to determine which exchange rate regime provides higher bilateral trade: fixed rate or currency union. Research Design & Methods: An index was designed based on variables commonly recognised as those that might affect the value of bilateral trade and...
Persistent link: https://www.econbiz.de/10012520004
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Braucht es monetäre und reale Konvergenz für eine (in einer) Währungsunion? : Anmerkungen zu einer aktuellen Debatte
Sell, Friedrich L. - 2001
von Ländern zur Teilnahme an der EWU. Es wird gezeigt, daß diese Kriterien weder die Theorie optimaler Währungsgebiete … the theory of optimum currency areas (OCA) nor can they avoid the so-called endogeneity problem. Opposed to that the level …
Persistent link: https://www.econbiz.de/10010508238
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The Eurozone : Piecemeal Approach to an Optimum Currency Area
Handler, Heinz - 2013
currency area (OCA) theory and asks for missing capstones that would meliorate EMU to eventually resemble an OCA. As potential …
Persistent link: https://www.econbiz.de/10013075363
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Optimal Wage Indexation for a Monetary Union with Country Specific Shocks
Leichter, Jules - 1998
The creation of a monetary union alters the incentives private agents face when bargaining their wage contracts. The model presented here introduces country specific real shocks to the Gray (1976) optimal wage indexation framework for a continuum of unions. It is assumed that the unions engage...
Persistent link: https://www.econbiz.de/10014216356
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The Economic Case for Monetary Union in the European Union
Buiter, Willem H. - 1997
Differential requirements for seigniorage provide a weak case for retaining monetary independence. As regards adjustment to asymmetric shocks, nominal exchange rate flexibility is at best a limited blessing and at worst a limited curse. Absence of significant fiscal redistribution mechanisms...
Persistent link: https://www.econbiz.de/10014089435
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Die Theorie der optimalen Währungsräume und die politische Reformfähigkeit : ein vernachlässigtes Kriterium
Heinemann, Friedrich - 1998
In diesem Beitrag wird neben einem kurzen Überblick über die Argumentationsweise und Probleme der Theorie optimaler … vor allem der Lohnflexibilität, aus. Aus dieser Erweiterung der Theorie der optimalen Währungsräume resultiert Skepsis …In this paper, a short survey is given on the contents and some problems of the theory of optimal currency areas. In …
Persistent link: https://www.econbiz.de/10011441036
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Monetary policy as an optimum currency area criterion
Groll, Dominik - 2014
Whether countries benefit from forming a monetary union depends critically on the way monetary policy is conducted. This is mainly because monetary policy determines whether and to what extent a flexible nominal exchange rate fosters or hampers macroeconomic stabilization, even if monetary...
Persistent link: https://www.econbiz.de/10010427958
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When do countries benefit from forming a monetary union? : conference paper
Groll, Dominik - 2013 - Preliminary version: August 30, 2013
The New Keynesian DSGE literature has come to the consensus that, from the perspective of business cycle stabilization, countries are worse off in terms of welfare by forming a monetary union. This consensus, however, is based on the assumption of monetary policy being optimal. Using a standard...
Persistent link: https://www.econbiz.de/10010342841
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A New-Style Theory of Dual Currency Area & International Public Currency : The Generalization of the Theory of OCA
Liu, Jianfeng - 2011
Based on the “natural dual features” of world economy, we generalize the theory of OCA through redesigning and … rejoining the fully independent affairs of national currencies and construct a new-style theory of dual currency area and …
Persistent link: https://www.econbiz.de/10013118507
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A Political Economic Critique on the Theory of Optimum Currency Areas, and the Implications for East Asia
Chey, Hyoung-kyu - 2014
Asia. While the debate has relied heavily on the theory of optimum currency areas, this theory has weaknesses in explaining … theory and in the political economy literature on monetary union. In addition, it addresses the feasibility of an East Asian …
Persistent link: https://www.econbiz.de/10013070891