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Current Accounts in a Currency Union

Current Accounts in a Currency Union »

Source: Current Accounts in a Currency Union

Volume/Issue: 2009/127

Series: IMF Working Papers

Author(s): Jörg Decressin , and Emil Stavrev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872743

Keywords: currency union, EMU, real exchange rate, exchange rate, current accounts, current account balance,

A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member states. This paper finds that divergences across euro-area...

Determining the Value of a Financial Unit of Account Basedon Composite Currencies

Determining the Value of a Financial Unit of Account Basedon Composite Currencies »

Source: Determining the Value of a Financial Unit of Account Basedon Composite Currencies : The Case of the Private Ecu

Volume/Issue: 1994/72

Series: IMF Working Papers

Author(s): D. Folkerts-Landau , and Peter Garber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451959130

Keywords: exchange rate, banking, exchange rates, banking system, foreign exchange

Evidence from the past three years indicates that the exchange rate between the private ECU and the official ECU Basket can deviate substantially from par. The value of the private ECU is driven by expectations tha...

Does Productivity Growth Lead to Appreciation of the Real Exchange Rate?

Does Productivity Growth Lead to Appreciation of the Real Exchange Rate? »

Source: Does Productivity Growth Lead to Appreciation of the Real Exchange Rate?

Volume/Issue: 2003/154

Series: IMF Working Papers

Author(s): Jaewoo Lee , and Man-Keung Tang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451857252

Keywords: Real exchange rate, nontradable services, tfp, exchange rate, exchange rates, total factor productivity, Open Economy Macroeconomics,

We revisit the time-honored link between productivity and the real exchange rate. Consistent with the traditional view, we find that higher labor productivity tends to lead to appreciation of the real exchange rate...

An Empirical Exploration of Exchange Rate Target-Zones

An Empirical Exploration of Exchange Rate Target-Zones »

Source: An Empirical Exploration of Exchange Rate Target-Zones

Volume/Issue: 1991/15

Series: IMF Working Papers

Author(s): Donald Mathieson , Robert Flood , and Andrew Rose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1991

ISBN: 9781451843163

Keywords: EMS, exchange rates, nonlinear, target-zone., exchange rate, equation, nonlinear models, rate of change

In the context of a flexible-price monetary exchange rate model and the assumption of uncovered interest parity, we obtain a measure of the fundamental determinant of exchange rates. Daily data for the European Mon...

The European Monetary System
			: The Experience, 1979-82

The European Monetary System : The Experience, 1979-82 »

Series: Occasional Papers

Author(s): Peter Nyberg , Horst Ungerer , and Owen Evens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 1983

DOI: http://dx.doi.org/10.5089/9781557750631.084

ISBN: 9781557750631

Keywords: exchange rate, monetary fund, exchange rates, monetary system, european monetary system

This paper is concerned with developments in the European Monetary System (EMS) from its start in March 1979 through December 1982....

I. Introduction and Background

I. Introduction and Background »

Source: The European Monetary System : The Experience, 1979-82

Series: Occasional Papers

Author(s): Peter Nyberg , Horst Ungerer , and Owen Evens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 1983

ISBN: 9781557750631

Keywords: exchange rate, monetary fund, exchange rates, monetary system, european monetary system

This paper is concerned with developments in the European Monetary System (EMS) from its start in March 1979 through December 1982. Chapter I provides a summary of events leading up...

II. The Performance of the System

II. The Performance of the System »

Source: The European Monetary System : The Experience, 1979-82

Series: Occasional Papers

Author(s): Peter Nyberg , Horst Ungerer , and Owen Evens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 1983

ISBN: 9781557750631

Keywords: exchange rate, monetary fund, exchange rates, monetary system, european monetary system

General At the start of the EMS, contrasting expectations and fears were raised with regard to the consequences of a strict adherence to a system of fixed, though adjustable, exchang...

III. The Evolution of the System

III. The Evolution of the System »

Source: The European Monetary System : The Experience, 1979-82

Series: Occasional Papers

Author(s): Peter Nyberg , Horst Ungerer , and Owen Evens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 1983

ISBN: 9781557750631

Keywords: exchange rate, monetary fund, exchange rates, monetary system, european monetary system

Operational Aspects The European Council Resolution of December 5, 1978 established the framework for the European Monetary System and the Agreement of March 13, 1979 between the EC...

An Empirical Exploration of Exchange Rate Target-Zones

An Empirical Exploration of Exchange Rate Target-Zones »

Volume/Issue: 1991/15

Series: IMF Working Papers

Author(s): Donald Mathieson , Robert Flood , and Andrew Rose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1991

DOI: http://dx.doi.org/10.5089/9781451843163.001

ISBN: 9781451843163

Keywords: EMS, exchange rates, nonlinear, target-zone., exchange rate, equation, nonlinear models, rate of change

In the context of a flexible-price monetary exchange rate model and the assumption of uncovered interest parity, we obtain a measure of the fundamental determinant of exchange rates. Daily data for the European Mon...

Current Accounts in a Currency Union

Current Accounts in a Currency Union »

Volume/Issue: 2009/127

Series: IMF Working Papers

Author(s): Jörg Decressin , and Emil Stavrev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

DOI: http://dx.doi.org/10.5089/9781451872743.001

ISBN: 9781451872743

Keywords: currency union, EMU, real exchange rate, exchange rate, current accounts, current account balance,

A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member states. This paper finds that divergences across euro-area...