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The theory of monetary integration
Open Economies Review, 1994Research dealing with the theory of monetary integration is reviewed. After briefly describing the genesis of the theory as foreshadowed in work on optimum currency areas, the paper assesses two main areas of recent research — the analysis of the effects of disturbances on participating countries in a currency area, and reputational considerations ...
George S Tavlas, Tavlas George S
exaly +2 more sources
Abstract The integration of (national) monetary systems forms an integral part of international economic integration, which (in the broad sense of the notion) refers to the removal of legal and practical barriers to trade and the free movement of production factors, including goods, services, persons, and capital.
exaly +3 more sources
exaly +3 more sources
European monetary integration [PDF]
European Economic Review, 1996 Abstract In this paper I seek to establish four points: 1. (1) EMU will be a much tighter and more ambitious regime than the gold standard. 2. (2) Should misalignment occur under EMU, it could lead to considerable political tension, since most of the short-term economic safety valves are of limited efficacy. 3. (3) While a single currency
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Monetary Integration, Uncertainty and the Role of Monetary Policy [PDF]
, 1991 This research considers the positive theory of monetary integration in a general equilibrium monetary model of the world economy. The analysis demonstrates that, in the face of uncertainty and incomplete asset markets, participation in a monetary union may be welfare improving since it facilitates state-dependent resource transfers between regional ...
Voss, Graham M., Voss, Graham M.
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European Monetary Integration [PDF]
, 2018 This chapter analyses the process of monetary integration in Europe between 1945 and 1992, when the Treaty of Maastricht introduced the euro as the single currency of most member states of the European Union (EU). It introduces the main theories used in dealing with the monetary integration of Europe, and provides the institutional and global context ...
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Monetary integration in the Southern Cone
The North American Journal of Economics and Finance, 2002Abstract The effect of exchange-rate volatility on the domestic economy depends in part on the importance of trade in total economic activity. Unlike the European Union (EU), trade among the Mercosur countries is less highly integrated, so that movements in intra-area exchange rates are less important than exchange rates vis-a-vis the dollar and ...
Belke, Ansgar, Gros, Daniel
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The Economics of Monetary Integration.
Economica, 1994This textbook on monetary integration, now in its third edition, has been fully revised and updated to take account of the recent important economic and political changes in the EMS, including new empirical evidence and coverage of further theoretical developments.
John Driffill, P. de Grauwe
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German Monetary Union and European Monetary Integration
1992German monetary policy is probably facing its biggest challenge since the end of the Second World War. In the 1990s it will not only be a matter of keeping the supply of money and credit in the Federal Republic on a non-inflationary course in the face of countless domestic and external perils.
Peter-Wilhelm Schlüter +1 more
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International Monetary Integration and European Monetary Union
2004There are various degrees of monetary integration, from the simple currency area to the full monetary union (with a single currency). Thus a preliminary conceptual and terminological clarification is called for. A good starting point is the definition given in a report to the Council and Commission of the European Economic Community commonly known as ...
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2007
This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency areas, it goes on to examine the structure and functioning of the European Monetary Union, then turns to the prospects for monetary integration elsewhere in the world - North America, South ...
Peter B. Kenen, Ellen E. Meade
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This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency areas, it goes on to examine the structure and functioning of the European Monetary Union, then turns to the prospects for monetary integration elsewhere in the world - North America, South ...
Peter B. Kenen, Ellen E. Meade
openaire +1 more source