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Establishing Conversion Values for New Currency Unions

Establishing Conversion Values for New Currency Unions »

Source: Establishing Conversion Values for New Currency Unions : Method and Application to the planned Gulf Cooperation Council (GCC) Currency Union

Volume/Issue: 2009/184

Series: IMF Working Papers

Author(s): Bassem Kamar , Jean-Etienne Carlotti , and Russell Krueger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

ISBN: 9781451873313

Keywords: Currency union, conversion rates, EAC, East African Community, ECOWAS, ECU, GCC, Gulf Cooperation Council, SADC, South African Development Community

A key issue in creating a new currency union is setting the rates to convert national currencies into the new union currency. Planned unions in the Gulf region and Africa are seeking methods to set the conversion r...

Exchange Rate Choices of Microstates

Exchange Rate Choices of Microstates »

Source: Exchange Rate Choices of Microstates

Volume/Issue: 2010/12

Series: IMF Working Papers

Author(s): Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451962000

Keywords: Micro-states, Currency board, Fixed exchange rate, Geweke- Hajivassiliou-Keane Multivariate Simulator, exchange rate, inflation, central bank, Geweke-hajivassiliou-keane Multivariate Simulator,

In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ab...

External Stability Under Alternative Nominal Exchange Rate Anchors

External Stability Under Alternative Nominal Exchange Rate Anchors »

Source: External Stability Under Alternative Nominal Exchange Rate Anchors : An Application to the GCC Countries

Volume/Issue: 1997/8

Series: IMF Working Papers

Author(s): Zubair Iqbal , and S. Erbas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1997

ISBN: 9781451927900

Keywords: exchange rate, statistic, exchange rates, nominal exchange rate, real exchange rate

Import and export stability is examined under two alternative nominal exchange rate anchors, the U.S. dollar and the SDR. Stability under the two pegs depends critically on import and export elasticity with respect...

The GCC Monetary Union

The GCC Monetary Union »

Source: The GCC Monetary Union : Some Considerations for the Exchange Rate Regime

Volume/Issue: 2003/66

Series: IMF Working Papers

Author(s): Behrouz Guerami , S. Erbas , and George Abed

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451848816

Keywords: exchange rate pegging, dollar peg, basket peg, exchange rate, competitiveness, exchange rate regime, currency basket, flexible exchange rate, International Policy Coordination and Transmission,

We compare the dollar peg to a dollar-euro basket peg as alternative exchange rate regimes for the incipient Gulf Cooperation Council (GCC) currency union. Quantitative evidence suggests basket peg does not dominat...

GCC Monetary Union and the Degree of Macroeconomic Policy Coordination

GCC Monetary Union and the Degree of Macroeconomic Policy Coordination »

Source: GCC Monetary Union and the Degree of Macroeconomic Policy Coordination

Volume/Issue: 2007/249

Series: IMF Working Papers

Author(s): Bassem Kamar , and Samy Ben Naceur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451868128

Keywords: Models with panel data, central banks and their policies, analysis of fiscal and monetary policy, economic integration, policy coordination and transmission, exchange rate, real exchange rate, correlation, exchange rates, cointegration,

Coordinating macroeconomic policies is a pre-requisite to a successful launch of the common currency in the GCC countries. Relying on the Behavioral Equilibrium Exchange Rate approach as a theoretical framework, we...

I. Middle Eastern Oil Exporters: Continued Spending Supports the Global Economy

I. Middle Eastern Oil Exporters: Continued Spending Supports the Global Economy »

Source: Regional Economic Outlook, May 2009, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2009

ISBN: 9781589068421

Keywords: oil exporters, exporters, oil importers, exchange rate, balance sheets

The global crisis has affected the MEOEs mainly through the sharp fall in oil prices and the tightening of credit conditions. Despite the decline in oil revenues, most countries of the group are maintaining...

II. Middle Eastern Oil Importers: Delayed Slowdown Under Way

II. Middle Eastern Oil Importers: Delayed Slowdown Under Way »

Source: Regional Economic Outlook, May 2009, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2009

ISBN: 9781589068421

Keywords: oil exporters, exporters, oil importers, exchange rate, balance sheets

With relatively limited links to global financial markets, the Middle Eastern Oil Importers (MEOIs) have generally escaped the ravages of the global financial crisis. As the global recession deepens, however...

III. The Caucasus and Central Asia: A Bumpy Road Ahead?

III. The Caucasus and Central Asia: A Bumpy Road Ahead? »

Source: Regional Economic Outlook, May 2009, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 May 2009

ISBN: 9781589068421

Keywords: oil exporters, exporters, oil importers, exchange rate, balance sheets

The global downturn is taking a toll on the Caucasus and Central Asia (CCA) region. Growth is expected to almost come to a halt this year, and current account and fiscal balances are moving toward deficit. W...

On a Common Currency for the GCC Countries

On a Common Currency for the GCC Countries »

Volume/Issue: 2002/12

Series: IMF Policy Discussion Papers

Author(s): Esteban Jadresic

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451969481.003

ISBN: 9781451969481

Keywords: Currencies, Cooperation Council for the Arab States of the Gulf, Currency, GCC countries, common currency, exchange rate, international monetary fund, exchange rates, monetary policy,

This paper assesses the eventual replacement of the currencies of the GCC countries with a common currency. It concludes that a properly implemented currency union may contribute to enhance economic efficiency in t...

Establishing Conversion Values for New Currency Unions
			: Method and Application to the planned Gulf Cooperation Council (GCC) Currency Union

Establishing Conversion Values for New Currency Unions : Method and Application to the planned Gulf Cooperation Council (GCC) Currency Union »

Volume/Issue: 2009/184

Series: IMF Working Papers

Author(s): Bassem Kamar , Jean-Etienne Carlotti , and Russell Krueger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873313.001

ISBN: 9781451873313

Keywords: Currency union, conversion rates, EAC, East African Community, ECOWAS, ECU, GCC, Gulf Cooperation Council, SADC, South African Development Community

A key issue in creating a new currency union is setting the rates to convert national currencies into the new union currency. Planned unions in the Gulf region and Africa are seeking methods to set the conversion r...