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Impact of Intra-European Trade Agreements, 1990-2005

Impact of Intra-European Trade Agreements, 1990-2005 »

Source: Impact of Intra-European Trade Agreements, 1990-2005 : Policy Implications for the Western Balkans and Ukraine

Volume/Issue: 2007/126

Series: IMF Working Papers

Author(s): Zhaogang Qiao , and Johannes Herderschee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

ISBN: 9781451866902

Keywords: Gravity Model, Customs Union, Currency Union, customs, trade agreement,

The paper provides quantitative estimates of the impact of the European trade agreements on trade flows. It applies both static and dynamic panel estimation techniques. The results are useful to policymakers becaus...

Monetary Policy in an Emerging European Economic and Monetary Union

Monetary Policy in an Emerging European Economic and Monetary Union »

Source: Monetary Policy in an Emerging European Economic and Monetary Union : Key Issues

Volume/Issue: 1990/73

Series: IMF Working Papers

Author(s): Jacob Frenkel , and Morris Goldstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1990

ISBN: 9781451958522

Keywords: exchange rate, exchange rates, monetary union

This paper discusses key issues relating to the design and implementation of monetary policy in an emerging European economic and monetary union. Specific institutional proposals for transition to EMU are neither e...

Toward An Economic Theory of Multilateral Development Banking

Toward An Economic Theory of Multilateral Development Banking »

Source: Toward An Economic Theory of Multilateral Development Banking

Volume/Issue: 1993/40

Series: IMF Working Papers

Author(s): Gerd Schwartz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1993

ISBN: 9781451845891

Keywords: capital market, credit union, exogenous shocks, banking

This paper addresses an apparent lack of economic theory in the analysis of multilateral development bank (MDB) behavior. A simple comparative statics model that is adapted from the credit union literature is used...

Real Effects of Common Currencies in East Asia

Real Effects of Common Currencies in East Asia »

Source: Real Effects of Common Currencies in East Asia

Volume/Issue: 2007/166

Series: IMF Working Papers

Author(s): Kazuko Shirono

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867305

Keywords: Currency Union, Gravity Model, exchange rate, bilateral trade, currency unions, trade costs, exchange rate policies,

Since the 1997 Asian currency crisis, new interest has emerged in the formation of a common currency area in East Asia. This paper provides estimates of trade and welfare effects of East Asian currency unions, usin...

The Design of EMU

The Design of EMU »

Source: The Design of EMU

Volume/Issue: 1997/99

Series: IMF Working Papers

Author(s): David Begg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1997

ISBN: 9781451852233

Keywords: European Monetary Union, credibility, asymmetric shocks, inflation, monetary policy, central bank, price stability, monetary union

Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implicati...

Yen Bloc or Yuan Bloc

Yen Bloc or Yuan Bloc »

Source: Yen Bloc or Yuan Bloc : An Analysis of Currency Arrangements in East Asia

Volume/Issue: 2009/3

Series: IMF Working Papers

Author(s): Kazuko Shirono

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

ISBN: 9781451871500

Keywords: Currency Union, Gravity Model, currency unions, trade effects, exchange rate, regional trade, bilateral trade,

This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of growing interest in forming a currency union in the region. The analysis suggests that currency union...

Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa

Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa »

Source: Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa

Volume/Issue: 2010/157

Series: IMF Working Papers

Author(s): Xavier Debrun , Catherine Pattillo , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201402

Keywords: Monetary integration, monetary union, monetary unions, inflation, monetary policy, International Monetary Arrangements and Institutions,

This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions actively pursued in Africa. The benefits of monetary union come from a more credible monetary...

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...

Inflation, Debt, and Default in a Monetary Union

Inflation, Debt, and Default in a Monetary Union »

Source: Inflation, Debt, and Default in a Monetary Union

Volume/Issue: 2000/179

Series: IMF Working Papers

Author(s): Samir Jahjah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2000

ISBN: 9781451859027

Keywords: Public debt, monetary policy, monetary union, default, central bank

Depending on the preferences of the central bank, countries in a monetary union tend to accumulate less debt. This reduces the need for fiscal criteria such as debt ceilings. In a monetary union with an independent...

Policy Implications of "Second-Generation" Crisis Models

Policy Implications of "Second-Generation" Crisis Models »

Source: Policy Implications of "Second-Generation" Crisis Models

Volume/Issue: 1997/16

Series: IMF Working Papers

Author(s): Nancy Marion , and Robert Flood

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1997

ISBN: 9781451843361

Keywords: exchange rate, fixed exchange rate, inflation, monetary union, exchange rates

After the speculative attacks on government-controlled exchange rates in Europe and in Mexico, economists began to develop models of currency crises with multiple solutions. In these models, a currency crisis occur...