This Paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone and the … East Caribbean Currency Area). We empirically explore different features of currency unions, and compare them both to … countries with sovereign monies, and to regions within nations. We ask: are countries within international currency unions as …

policy that aims at price level stability, an alternative basket to the European Currency Unit (ECU) for a fixed peg, and …

aggregate trade volumes to exchange rate changes is quantitatively small. A 10% home currency depreciation results in an …

conditions. The Maastricht Treaty, while silent on the regime governing the relationships between the single currency and … other hand later admission to the single currency requires fulfilment of the convergence criteria, one of which is the …

cluster towards the middle of the band. We show that such findings result from neglect of the multi-currency nature of the EMS …

of a price-level target path, a devaluation of the currency and a temporary exchange rate peg, which is later abandoned … economy and escape deflation by a real depreciation of the domestic currency, a lower long real interest rate, and increased …

This paper discusses what we have learned from last year's currency crises in the ERM and Nordic countries about fixed …