The Determinants of Exchange Rate Flexibility and the Theory of Optimum Currency Areas PDF Download
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Author: Nombulelo Duma
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages :
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Author: Nombulelo Duma
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages :
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Author: Edward Tower
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 0
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Book Description
Author: Sofia Roth
Publisher: GRIN Verlag
ISBN: 3668717052
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
Seminar paper from the year 2011 in the subject Economics - Macro-economics, general, , language: English, abstract: This term paper outlines the theory of Optimum Currency Area (OCA), also known as an Optimal Currency Region (OCR). It also deals with the question under which conditions it is more suitable to have a fixed exchange rate regime or a flexible exchange rates regime in an OCA. The theory of OCA was developed in the early 1960s and deals with mixed, complicated issues of international macroeconomics and "emerged from the debate on the advantages and disadvantages of fixed versus flexible exchange rate regimes". Moreover the theory "attempts to answer the question under which circumstances it is beneficiary for a country or region to constitute a common currency area with other countries or region". This question was analyzed and contributed by the pioneered work of Mundell (1961). Other contributors at the beginning of this theory were McKinnon (1962) and Kenen (1969). Their cognition were based on founding’s by Friedman (1953) and Meade (1957).
Author: Robert A. Mundell
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 24
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Author: Thorsten Mannherz
Publisher: GRIN Verlag
ISBN: 3668551340
Category : Business & Economics
Languages : en
Pages : 28
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Seminar paper from the year 2016 in the subject Economics - Finance, grade: 1,7, University of applied sciences, Cologne, course: Economics, language: English, abstract: On the 1st of January 1999, 11 European countries adopted the Euro as their official currency. A new Economic and Monetary Union with more than 300 million citizens was born. Sharing a common currency offers several advantages for countries, firms and citizens like enhanced cross-border trade, a better price transparency or the disappearance of foreign exchange rate risks. However, a Monetary Union also comes with constraints like the loss of exchange rate regime of its members which is an important instrument to fight adverse shocks. In order to minimize economic risks for its members and to foster the economic stability of the future European EMU, the European Union member states agreed to meet the Euro Convergence Criteria as a requirement to adopt the Euro. During the negotiations about the necessary criterion, the theory of Optimal Currency Areas – a theory which has its origin in the Bretton Woods era – was deliberately reincarnated by economists to verify whether or not the Eurozone can become a successful EMU. Until today the (traditional) OCA theory is often used by the literature and also by politicians to evince fundamental flaws of the Eurozone. This assignment investigates the Eurozone in the light of the theory of Optimal Currency Areas. In the first part of this assignment the main contributors to the theory of Optimal Currency Areas are enumerated and its most significant factors are explained. The second part applies the listed factors to the Eurozone in order to determine whether or not a specific criterion is fulfilled by the European EMU. A summary and conclusion complete this essay.
Author: Michael Melvin (Economist)
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 50
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Author: Edward Tower
Publisher:
ISBN:
Category :
Languages : en
Pages : 98
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Author: Marin Muzhani
Publisher: Vernon Press
ISBN: 1622731778
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
This book compares and contrasts flexible versus fixed exchange rate regimes. Beginning with their theoretical justifications, it showcases their observed advantages and disadvantages as they played out in the currency crises of the 1990s and early 2000s across Asia, Europe and Latin America. An analysis of the drivers and implications of these crises singles out fast-paced liberalization and globalization as having played central roles. Moreover it sheds light on some of the factors contributing to the 2008 financial crisis and the key monetary events in its aftermath. An accessible, yet rigorous discussion, supported by extensive evidence, helps readers reach their own conclusions regarding the respective merits of alternative exchange rate systems.
Author: Tamim A. Bayoumi
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 40
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Author: Mr.Tamim Bayoumi
Publisher: International Monetary Fund
ISBN: 1451846177
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
A model of optimum currency areas is presented using a general equilibrium model with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union.
