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Evaluating the EMS and EMU Using Stochastic Simulations

Evaluating the EMS and EMU Using Stochastic Simulations »

Source: Evaluating the EMS and EMU Using Stochastic Simulations : Some Issues

Volume/Issue: 1993/28

Series: IMF Working Papers

Author(s): Paul Masson , and Steven Symansky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1993

ISBN: 9781451844580

Keywords: inflation, monetary policy, money supply, monetary union, monetary fund

Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model rea...

Economic and Monetary Union in Europe and Constraintson National Budgetary Policies

Economic and Monetary Union in Europe and Constraintson National Budgetary Policies »

Source: Economic and Monetary Union in Europe and Constraintson National Budgetary Policies

Volume/Issue: 1990/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1990

ISBN: 9781451965278

Keywords: monetary union, monetary policy, price stability, inflation, monetary fund

This paper reviews the pros and cons of institutionalized constraints limiting the freedom of national budgetary policies within an Economic and Monetary Union (EMU) in Europe. The issue is approached from three an...

The Common Monetary Area in Southern Africa

The Common Monetary Area in Southern Africa »

Source: The Common Monetary Area in Southern Africa : Shocks, Adjustment, and Policy Challenges

Volume/Issue: 2007/158

Series: IMF Working Papers

Author(s): Iyabo Masha , Leighton Harris , Jian-Ye Wang , and Kazuko Shirono

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867220

Keywords: Exchange Rate, Monetary Union, Shocks, Policy Adjustment, inflation, central bank, monetary unions, monetary fund,

This study assesses the experience of the Common Monetary Area (CMA) based on available empirical evidence over the last two decades. It pays particular attention to member countries' adjustment to economic shocks...

Cash Shortage in the Former Soviet Union

Cash Shortage in the Former Soviet Union »

Source: Cash Shortage in the Former Soviet Union

Volume/Issue: 1994/67

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451848861

Keywords: inflation, monetary union, monetary fund, money supply, monetary authority, European II,

An unexpected shortage of banknotes emerged during 1992 in the former Soviet Union. The cash shortage is explained by the asymmetry in the monetary union that prevailed, under which one member (the Russian Federati...

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...

Beauty Queens and Wallflowers

Beauty Queens and Wallflowers »

Source: Beauty Queens and Wallflowers : Currency Unions in the Middle East and Central Asia

Volume/Issue: 2006/226

Series: IMF Working Papers

Author(s): Katrin Elborgh-Woytek , and Julian Berengaut

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451864861

Keywords: Currency Union, Optimum Currency Areas, inflation, monetary union, monetary fund, central bank, International Monetary Arrangements and Institutions, Financial Aspects of Economic Integration,

Against the background of the theory of optimum currency areas, the paper analyzes possible sequences for establishing a currency union (CU) in the Middle East and Central Asia region. Between the corner solutions...

Inflation Differentials in the GCC

Inflation Differentials in the GCC »

Source: Inflation Differentials in the GCC : Does the Oil Cycle Matter?

Volume/Issue: 2011/294

Series: IMF Working Papers

Author(s): Oral Williams , and Kamiar Mohaddes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2011

ISBN: 9781463927288

Keywords: Inflation differentials, convergence, panel data, pairwise approach, monetary union, Gulf Cooperation Council (GCC) countries., inflation, inflation rates, monetary fund, price level

This paper uses a pairwise approach to investigate the main factors that have been driving inflation differentials in the Gulf Cooperation Council (GCC) region for the past two decades. The results suggest that inf...

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

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

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

Volume/Issue: 2010/193

Series: IMF Working Papers

Author(s): Marc Quintyn , and Sophia Gollwitzer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455205233

Keywords: Macroeconomic Commitment Institutions, Political-Economic Institutions, inflation, central bank, monetary fund, monetary union, The Effectiveness of Macroeconomic Commitment, Fiscal and Monetary Policy in Development, Capitalist Systems: Political Economy, Other Economic Systems: Other

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 an...

The ECB and Euro-Area Enlargement1

The ECB and Euro-Area Enlargement1 »

Source: The ECB and Euro-Area Enlargement

Volume/Issue: 2002/175

Series: IMF Working Papers

Author(s): Helge Berger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451858761

Keywords: Economic and Monetary Union (EMU), transition countries, accession countries, inflation, central bank, monetary fund, monetary policy decisions, Models of Political Processes: Rent-seeking, Elections, Legislatures

The likely enlargement of euro-area membership will radically change the environment under which monetary policy will be made in the euro area. Within less than a decade, the number of member countries in the euro...

Evaluating the EMS and EMU Using Stochastic Simulations
			: Some Issues

Evaluating the EMS and EMU Using Stochastic Simulations : Some Issues »

Volume/Issue: 1993/28

Series: IMF Working Papers

Author(s): Paul Masson , and Steven Symansky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1993

DOI: http://dx.doi.org/10.5089/9781451844580.001

ISBN: 9781451844580

Keywords: inflation, monetary policy, money supply, monetary union, monetary fund

Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model rea...