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A Formal Model of Optimum Currency Areas

A Formal Model of Optimum Currency Areas »

Source: A Formal Model of Optimum Currency Areas

Volume/Issue: 1994/42

Series: IMF Working Papers

Author(s): Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1994

ISBN: 9781451846171

Keywords: Monetary unions, exchange rate, currency areas, optimum currency areas, transactions costs, currency unions

A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correl...

Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa

Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa »

Source: Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa : Implications for Optimum Currency Arrangements

Volume/Issue: 1995/142

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1995

ISBN: 9781451927498

Keywords: Optimum Currency Areas, correlations, exchange rate, exchange rate arrangements, correlation, currency areas

Africa has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements...

Price Impacts of Non-Adoption of the Euro for Small European Countries

Price Impacts of Non-Adoption of the Euro for Small European Countries »

Source: Price Impacts of Non-Adoption of the Euro for Small European Countries

Volume/Issue: 2006/151

Series: IMF Working Papers

Author(s): Harald Anderson , and Sibel Beadle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

ISBN: 9781451864113

Keywords: Optimal Currency Area, Major World Currency, Currency Peg, Self-Enforcing Currency Area, equation, exchange rate, exchange rates, time series, foreign exchange, Self Enforcing Currency Area,

Debates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a...

Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice

Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice »

Source: Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice

Volume/Issue: 2008/132

Series: IMF Working Papers

Author(s): Nienke Oomes , and Christopher Meissner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451869910

Keywords: exchange rate regime, anchor, network externalities, optimal currency area, exchange rate, exchange rate regimes, trade partners,

What determines the currency to which countries peg or "anchor" their exchange rate? Data for over 100 countries between 1980 and 1998 reveal that trade network externalities are a key determinant. This implies tha...

Trade, Finance, Specialization, and Synchronization

Trade, Finance, Specialization, and Synchronization »

Source: Trade, Finance, Specialization, and Synchronization

Volume/Issue: 2003/81

Series: IMF Working Papers

Author(s): Jean Imbs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451850383

Keywords: specialization, financial openness, international business cycle, optimal currency area, financial integration, equation, correlations, correlation, bilateral trade, Open Economy Macroeconomics,

The paper investigates the determinants of business cycles synchronization across regions. It uses both international and intranational data to evaluate the linkages between trade in goods, trade in financial asset...

The CFA Franc Zone and the EMU1

The CFA Franc Zone and the EMU1 »

Source: The CFA Franc Zone and the EMU

Volume/Issue: 1997/156

Series: IMF Working Papers

Author(s): Michel Galy , and Michael Hadjimichael

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1997

ISBN: 9781451857368

Keywords: Monetary Union, Optimum Currency Areas, CFA Franc Zone, EMU, exchange rate, monetary fund, central bank, effective exchange rate

Whether the prospective shift of the peg of the CFA franc to the euro would constitute an exchange rate arrangement with EMU countries would depend critically on the interpretation of the free convertibility of the...

How Do Countries Choose their Exchange Rate Regime?

How Do Countries Choose their Exchange Rate Regime? »

Source: How Do Countries Choose their Exchange Rate Regime?

Volume/Issue: 2001/46

Series: IMF Working Papers

Author(s): Helene Poirson Ward

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451846553

Keywords: optimal currency areas, exchange rate, exchange rate regime, exchange rate risk, exchange rate flexibility, International Monetary Arrangements and Institutions, International Policy Coordination and Transmission, Economic Development: General,

This paper investigates the determinants of exchange rate regime choice in 93 countries during 1990-98. Cross-country analysis of variations in international reserves and nominal exchange rates shows that (i) truly...

A Formal Model of Optimum Currency Areas

A Formal Model of Optimum Currency Areas »

Volume/Issue: 1994/42

Series: IMF Working Papers

Author(s): Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1994

DOI: http://dx.doi.org/10.5089/9781451846171.001

ISBN: 9781451846171

Keywords: Monetary unions, exchange rate, currency areas, optimum currency areas, transactions costs, currency unions

A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correl...

Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa
			: Implications for Optimum Currency Arrangements

Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa : Implications for Optimum Currency Arrangements »

Volume/Issue: 1995/142

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1995

DOI: http://dx.doi.org/10.5089/9781451927498.001

ISBN: 9781451927498

Keywords: Optimum Currency Areas, correlations, exchange rate, exchange rate arrangements, correlation, currency areas

Africa has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements...

Price Impacts of Non-Adoption of the Euro for Small European Countries

Price Impacts of Non-Adoption of the Euro for Small European Countries »

Volume/Issue: 2006/151

Series: IMF Working Papers

Author(s): Harald Anderson , and Sibel Beadle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2006

DOI: http://dx.doi.org/10.5089/9781451864113.001

ISBN: 9781451864113

Keywords: Optimal Currency Area, Major World Currency, Currency Peg, Self-Enforcing Currency Area, equation, exchange rate, exchange rates, time series, foreign exchange, Self Enforcing Currency Area,

Debates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a...