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The Quarterly Journal of Economics, 2002 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Alesina, Alberto, Barro, Robert
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Currency Union with and Without Banking Union [PDF]
SSRN Electronic Journal, 2013 This paper analyzes a two-country model of currency, banks and endogenous default to study whether impediments to credit market integration across jurisdictions impact the desirability of a currency union. We show that when those impediments induce a higher cost for banks to manage cross-border credit compared to domestic credit, welfare may not be ...
Bignon, V., Breton, R., Rojas Breu, M.
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CURRENCY UNION WITH OR WITHOUT BANKING UNION [PDF]
International Economic Review, 2018 AbstractWe build a symmetric two‐country monetary model with credit to study the interplay between currency integration and credit markets integration. The currency arrangement affects credit availability through default incentives. We capture credit markets integration by the extra cost incurred to obtain credit for cross‐border transactions and, with
Bignon, Vincent +2 more
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ECONOMIC EFFECTS OF CURRENCY UNIONS [PDF]
Economic Inquiry, 2003 We develop a new instrumental‐variable (IV) approach to estimate the effects of different exchange rate regimes on bilateral outcomes. The basic idea is that the characteristics of the exchange rate between two countries are partially related to the independent decisions of these countries to peg—explicitly or de facto—to a third currency, notably ...
Silvana Tenreyro, Robert J. Barro
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Regional Currency Unions and Supranational Currency
Economy of Region, 2014 Creation of voluntary regional economic alliances of independent countries was an important area of development of the regional and world economy at the end of XX-th century. They arise as a reaction on the dominance of the world’s few national currencies, playing a world level role.
Asaliev, A. M. +2 more
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Currency Unions in Prospect and Retrospect [PDF]
Annual Review of Economics, 2010 We critically review the recent literature on currency unions and discuss the methodological challenges posed by the empirical assessment of their costs and benefits. In the process, we provide evidence on the economic effects of the euro. In particular, and in contrast with estimates of the trade effect of other currency unions, we find that the euro ...
Silva, JMC Santos, Tenreyro, Silvana
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External Effects of Currency Unions [PDF]
SSRN Electronic Journal, 2004 Der Artikel argumentiert, dass die Einfuhrung des Euro die faktische geldpolitische Autonomie auch in Staaten reduziert hat, die der Europaischen Wahrungsunion nicht beigetreten sind. Das Argument basiert auf einem einfachen Mudellianischen Modell, in dem Wahrungsunionen die wirtschaftliche Effizienz steigern aber zugleich die geldpolitische Autonomie ...
Thomas Plümper, Vera E. Troeger
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The Suitability of a Greater China Currency Union [PDF]
SSRN Electronic Journal, 2004 Abstract. The study assesses the level of integration among the three Greater China economies (China, Hong Kong and Taiwan) and examines the suitability of a Greater China currency union. The three economies already have extensive trade and investment linkages. Our analyses show that they share common long‐run and short‐run cyclical variations.
Yin-wong Cheung, Jude Yuen
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The Recycling Problem in a Currency Union [PDF]
SSRN Electronic Journal, 2010 The recycling problem is general, and is not confined to a multicurrency setting: whenever there are surplus and deficit units — that is, everywhere — adjustment in real terms can be either upward or downward. The question is, Which? An attempt is made to formulate the problem in terms of the European Monetary Union.
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Participation in a Currency Union [PDF]
American Economic Review, 1990 When countries of different sizes participate in a cooperative agreement, the potential gain from deviation determines the minimum power that each country requires in the common decision-making. This paper studies the problem in the context of a monetary union - multiple countries sharing a common currency - whose very existence requires coordination ...
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