Search Results - subject:"Monetary unions."

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Asymmetric shocks in a currency union with monetary and fiscal handcuffs?

Erceg, Christopher J.; Lindé, Jesper - Federal Reserve Board (Board of Governors of the … - 2010

This paper investigates the impact of the asymmetric shocks within a currency union in a framework that takes account of the zero bound constraint on policy rates, and also allows for constraints on fiscal policy. In this environment, we document that the usual optimal currency argument showing...

Persistent link: https://www.econbiz.de/10008799639

Persistence of Inflationary shocks: Implications for West African Monetary Union Membership

ALAGIDEDE, PAUL; Coleman, Simeon; Cuestas, Juan Carlos - Department of Economics, University of Stirling - 2010

Plans are far advanced to form a second monetary union, the West African Monetary Zone (WAMZ), in Africa. While much attention is being placed on convergence criteria and preparedness of the five aspiring member states, less attention is being placed on how the dynamics of inflation in...

Persistent link: https://www.econbiz.de/10008831616

The Effectiveness of Macroeconomic Commitment in Weak(er) Institutional Environments

Quintyn, Marc; Gollwitzer, Sophia - International Monetary Fund (IMF) - 2010

This paper analyzes the institutional conditions affecting the establishment and effectiveness of independent central banks and of budgetary institutions. It draws on the recent theory developed by North, Wallis and Weingast on the transition from a closed and fragile state to an open economic...

Persistent link: https://www.econbiz.de/10008671291

Effects of Monetary Unions on Inequalities (Para Birliklerinin Esitsizlikler Uzerindeki Etkileri)

Hulagu, Timur; Ikizler, Devrim - Türkiye Cumhuriyet Merkez Bankası - 2010

This paper analyzes how forming a monetary union affects consumption and earnings inequalities caused by adopting a common currency. We use a two country overlapping-generations model to investigate these effects. When countries choose to form a monetary union, the country with higher initial...

Persistent link: https://www.econbiz.de/10008694922

Market Integration and Technological Leadership in Europe

Belderbos, René; Sleuwaegen, Leo; Veugelers, Reinhilde - Directorate-General Economic and Financial Affairs, … - 2010

This study traces and analyses the changes in firm and industry structure due to EU market integration and the integration of the EU in the global economy. It focuses on changes in competitiveness based on innovation and technology development.

Persistent link: https://www.econbiz.de/10008459211

Insulation impossible: fiscal spillovers in a monetary union

Cooper, Russell; Kempf, Hubert; Peled, Dan - Federal Reserve Bank of Dallas - 2009

This paper studies the effects of monetary policy rules in a monetary union. The focus of the analysis is on the interaction between the fiscal policy of member countries (regions) and the central monetary authority. When capital markets are integrated, the fiscal policy of one country will...

Persistent link: https://www.econbiz.de/10005009937

The GCC Monetary Union: Choice of Exchange Rate Regime

Khan, Mohsin S. - Peter G. Peterson Institute for International Economics … - 2009

needs and institutions develop. Keywords: Exchange rate regimes, monetary unions, Gulf Cooperation Council JEL Codes: F15 … only to the European Monetary Union. 2 The experience of monetary unions elsewhere in the world can provide useful … insights into the challenges that the planned GCC monetary union faces. Presently there are five monetary unions in the world …

Persistent link: https://www.econbiz.de/10005760868

Yen Bloc or Yuan Bloc; An Analysis of Currency Arrangements in East Asia

Shirono, Kazuko - International Monetary Fund (IMF) - 2009

This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of growing interest in forming a currency union in the region. The analysis suggests that currency unions with China tend to generate higher average welfare gains for East Asian...

Persistent link: https://www.econbiz.de/10005826046

Systemic Liquidity Management in the U.A.E.; Issues and Options

Chailloux, Alexandre; Hakura, Dalia - International Monetary Fund (IMF) - 2009

The paper analyzes the U.A.E.'s liquidity management framework in the context of the 2008 global financial crisis and the measures taken by the Central Bank of the U.A.E. to ease liquidity pressures in the second half of 2008. Drawing also on an empirical analysis of data for 15 U.A.E. banks...

Persistent link: https://www.econbiz.de/10008497608

Improving Surveillance Across the Cemac Region

Iossifov, Plamen; Takebe, Misa; Zhan, Zaijin; … - International Monetary Fund (IMF) - 2009

In this paper, we consider the design of the surveillance, and, in particular, the fiscal criteria in the Central African Economic and Monetary Community (CEMAC) with the view to ensuring they are consistent with internal and external sustainability. This consistency is important within a...

Persistent link: https://www.econbiz.de/10008497617