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Author: Mr.Tamon Asonuma
Publisher: International Monetary Fund
ISBN: 1475541171
Category : Business & Economics
Languages : en
Pages : 61
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Book Description
This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i) participating in the CMA benefits all members; (ii) joining the CMA individually is beneficial for all SADC members except Angola, Mauritius and Tanzania; (iii) creating a symmetric CMA-wide monetary union with a regional central bank carries some costs in terms of foregone anti-inflationary credibility; and (iv) SADC-wide symmetric monetary union continues to be beneficial for all except Mauritius, although the gains for existing CMA members are likely to be limited.
Author: Mr.Tamon Asonuma
Publisher: International Monetary Fund
ISBN: 1475541171
Category : Business & Economics
Languages : en
Pages : 61
Get Book
Book Description
This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i) participating in the CMA benefits all members; (ii) joining the CMA individually is beneficial for all SADC members except Angola, Mauritius and Tanzania; (iii) creating a symmetric CMA-wide monetary union with a regional central bank carries some costs in terms of foregone anti-inflationary credibility; and (iv) SADC-wide symmetric monetary union continues to be beneficial for all except Mauritius, although the gains for existing CMA members are likely to be limited.
Author: Tamon Asonuma
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) countries. Model simulations suggest that (i) participating in the CMA benefits all members; (ii) joining the CMA individually is beneficial for all SADC members except Angola, Mauritius and Tanzania; (iii) creating a symmetric CMA-wide monetary union with a regional central bank carries some costs in terms of foregone anti-inflationary credibility; and (iv) SADC-wide symmetric monetary union continues to be beneficial for all except Mauritius, although the gains for existing CMA members are likely to be limited.
Author: Falko Fecht
Publisher:
ISBN: 9783865583277
Category : Financial risk
Languages : en
Pages : 36
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Book Description
Author: Warner Max Corden
Publisher: Princeton, N.J. : International Finance Section, Princeton University
ISBN:
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
Author: Paul de Grauwe
Publisher: Oxford University Press, USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
"This expositive textbook on monetary integration looks at the costs and benefits of monetary union in Europe. The author examines such topical issues as whether there is a good economic case for countries to have separate currencies, and whether a nation increases its welfare when it abolishes its national currency and adopts the currency of a wider area. This leads naturally to questions concerning the size of an optimal monetary area - should this include the EC, the whole of Europe, or the whole world?" "The first part of the book focuses on complete monetary unions in which a common currency is substituted for national currencies. The second part looks at incomplete monetary unions and analyzes the operation of monetary systems in which national monetary authorities maintain their national currencies but agree to fix their exchange rates. This leads to an analysis of the European Monetary System and also examines the issues relating to the transition to a full monetary system." "The book combines comprehensive exposition with discussion of recent historical events and theory and will prove invaluable to students."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Author: Franz P. Lang
Publisher: Springer Science & Business Media
ISBN: 3642484212
Category : Business & Economics
Languages : en
Pages : 269
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Book Description
International economic integration is a topic upon which both academics and policy-makers are focusing a great deal of attention. This has perhaps been most marked in western Europe, given the establishing of the inter nal market and the prospects for an economic and monetary union. In parallel with the movement toward widening and deeping of western European economic integration, we find an increased integration of eastern Europe to world trade and finance as well as regional integration in North America and in East Asia. The book on hand provides a collection of recent research by leading scholars and practicians in this field. It is divided into three parts. The first part deals with some theoretical aspects of international integration, the second and the third part attend to implications of concrete forms of international integration inside and outside Europe. Part I starts with a neoclassical analysis of the impacts of factor-market integration by Franz Peter Lang. He investigates the effects on production level, production structure, demand level and structure of external trade of a "small integration area". Lang shows that the specific welfare effects of factor-market integration can only be realized if and only if external trade (between the integration area and the rest of the world) is increased too.
Author: Jeffry A. Frieden
Publisher: Princeton University Press
ISBN: 0691173842
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Author: Theodore Hitiris
Publisher:
ISBN:
Category : EUROPEAN ECONOMIC COMMUNITY
Languages : en
Pages : 376
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Book Description
This is a revised and updated version. The European Community has undergone rapid changes in recent years, not least because of the 1992 Initiative. The programme to complete the single market has fostered other new initiatives towards greater co-operation, integration and union of the Community's nations - a social charter for workers' rights, monetary integration and even political union are on the agenda. World events have also had a major effect on the Community and its policies - notably the rapid political changes in Eastern Europe and the Uruguay round of the GATT trade negotiations. there is an increased treatment of the analytical issues for assessing the problems of economic integration - notably the theoretical foundations underpinning integration, the welfare effects of the single market and the basic theory of economic policy. Further reading sections at the end of each chapter guide the reader towards additional sources of information and analysis on the European Community.
Author: Willem Molle
Publisher: Ashgate Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 588
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Book Description
Progressive integration has been a significant characteristic of economic development in the last few decades worldwide and in Europe - where it has found expression notably in the European Community (EC), now the European Union (EU). The issue of monetary integration has been central to the discussion on European economic integration. This text aims to select the more relevant aspects and developments, placing them in a robust conceptual structure, and integrate theoretical developments with the results of empirical research and of policy analysis. The authors explain the logic of the dynamic process, describe the structural features of the European economy, and depict the historical developments so as to give a sound basis for the understanding of the present situation and the likely future developments. In addition, it sets the European developments in the light of global developments. This revised edition covers recent developements, such as the setting up of the economic and monetary union, the widening of the EU, updated data, and integrates the results of recent theoretical and empirical work.
Author: Michael Emerson
Publisher:
ISBN: 9780198773245
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
