Results 1 to 10 of about 1,188,552 (149)
Fiscal Devaluation in a Monetary Union [PDF]
IMF Economic Review, 2013 Between 1999 and the onset of the economic crisis in 2008 real exchange rates in Greece, Ireland, Italy, Portugal and Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence of current account imbalances. Given that exchange rate devaluations are no longer available in a monetary union,
Engler, Philipp +3 more
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DOES MONETARY UNION DIFFUSE? THE FAILURE OF THE ECOWAS MONETARY UNION PLAN
Dinamika GlobalIn 2000, the Economic Community of West African States (ECOWAS) proposed the idea of a single currency. To this day, however, this plan remains unsuccessful despite several attempts being made to proceed with this ambition.
Farhan Abdul Majiid
doaj +2 more sources
Explaining governmental preferences on Economic and Monetary Union Reform
European Union Politics, 2019 This article examines the extent to which economic or political factors shaped government preferences in the reform of the Economic Monetary Union. A multilevel analysis of European Union member governments’ preferences on 40 EMU reform issues negotiated
Silvana Tarlea +2 more
exaly +2 more sources
Game of Thrones: Accommodating Monetary Policies in a Monetary Union
Games, 2018 In this paper, we present an application of the dynamic tracking games framework to a monetary union. We use a small stylized nonlinear three-country macroeconomic model of a monetary union to analyze the interactions between fiscal (governments) and ...
Dmitri Blueschke, Reinhard Neck
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To Be or Not to Be in Monetary Union: A Synthesis [PDF]
SSRN Electronic Journal, 2010 Monetary union can benefit countries suffering from policy credibility problems if it eliminates the inflation bias and also allows for more efficient management of certain shocks. But it also carries costs as some stabilization may be feasible even in the absence of credibility, and this may be more than what an individual country can hope for in a ...
Clerc, L., Dellas, H., Loisel, O.
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Are Monetary Unions More Synchronous than Non-Monetary Unions? [PDF]
SSRN Electronic Journal, 2015 Within currency unions, the conventional wisdom is that there should be a high degree of macroeconomic synchronicity between the constituent parts of the union. But this conjecture has never been formally tested by comparing sample of monetary unions with a control sample of countries that do not belong to a monetary union.
Crowley, Patrick, Trombley, Christopher
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Social Science Research Network, 2020 In this paper we study fiscal policy effects and fiscal space for countries in a monetary union with different levels of public debt. We develop a dynamic stochastic general equilibrium (DSGE) model of a two-country monetary union, calibrated to match ...
J. Domingo +2 more
semanticscholar +1 more source
Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union
Social Science Research Network, 2020 We study the macroeconomic effects of internal devaluations undertaken by a periphery of countries belonging to a monetary union. We find that internal devaluations have large and positive output effects in the long run.
Javier Andrés +3 more
semanticscholar +1 more source
Economic and Monetary Union at twenty: a stocktaking of a tumultuous second decade: introduction
Journal of European Integration, 2020 This contribution discusses the two main asymmetries of European Economic and Monetary Union (EMU) as they developed over the past two decades since the launch of the Single Currency. From the outset, EMU involved asymmetric degrees of integration in the
D. Howarth, A. Verdun
semanticscholar +1 more source
PARASAL BİRLİĞİN ÜYE ÜLKELER AÇISINDAN FAYDA VE MALİYETLERİ
Ankara Avrupa Çalışmaları Dergisi, 2003 In this study, potential benefits and costs of monetary union have been explained.The most important cost element of monetary union is that countries can't apply an independent monetary and exchange rate policy because of monetary union. At the same time
M. Kemal Değer
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