Download or read book The Economics of Common Currencies written by Harry G. Johnson and published by Routledge. This book was released on 2013-07-18 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gathering together the papers presented at the Madrid Conference on Optimum Currency Areas in 1970 this volume represents one of the first complete surveys of the theory and policy implication of monetary integration. The book discusses: the economics of fixed exchange rates relevant to monetary relations within an integrated monetary area the evolution of economic doctrine and a survey of optimum currency area theory problems of policy co-ordination within a currency area relevance of the monetary-fiscal policy mix problems of monetary union in developing countries the book predicted the establishment of an European currency but presented the case for greater flexibility of exchange rates as an alternative to currency unification.
Download or read book The Economics of Common Currencies written by Harry Gordon Johnson and published by . This book was released on 1973 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Common Currencies written by Harry Gordon Johnson and published by . This book was released on 2013 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Common Currencies Collected Works of Harry Johnson written by Harry G. Johnson and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supervised by Maurice Dobb, Harry Johnson was particularly impressed by the breadth and the ideas of Joseph Schumpeter, which greatly influenced his writings in later years. Johnson made many contributions to the development of Heckscher-Ohlin theory and also helped to found the monetary approach to the balance of payments. He wrote many surveys of monetary economics that helped to clarify the issues in question.
Download or read book The economics of common currencies written by Madrid Conference on Optimum Currency Areas 1970 and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Common Currencies written by Madrid Conference on Optimum Currency Areas, 1970 and published by . This book was released on 1973 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimum Currency Areas written by Mr.Leonardo Leiderman and published by International Monetary Fund. This book was released on 1997-06-17 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Mundell's pioneering theory of optimum currency areas is revisited, with experts from the IMF, the BIS, the European Investment Bank, academia, European think tanks, and the Bank of Israel looking at its current practical applications, especially in the context of the forthcoming European Economic and Monetary Union (EMU). Robert Mundell himself offers an update to help in assessing the implications and consequences of EMU.
Download or read book The Economics of Common Currencies Proceedings of the Madrid Conference on Optimum Currency Areas Held March 16 to 19 1970 written by 1970 Madrid conference on optimum currency areas and published by . This book was released on 1973 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Monetary Integration written by Paul de Grauwe and published by Oxford University Press, USA. This book was released on 1994 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Revised Second Edition covers recent events in the EMS, including the collapse of the ERM; includes fully updated empirical evidence; includes discussion of new theoretical developments such as target zone models and credibility testing; and introduces the political issues surrounding the move to monetary union. This popular textbook on monetary integration has now been fully revised and updated with expanded chapters on recent important events in the EMS, new empirical evidence, and coverage of further theoretical developments. This lucid and authoritative view will remain an invaluable undergraduate textbook. Professor De Grauwe focuses on the economic theory of monetary union, presents the costs and benefits of moving to a single currency, and provides a detailed presentation of the monetary system operating in Europe. This second edition introduces the student to the political issues surrounding monetary union, and Professor De Grauwe offers a critical analysis of the possibility of eventual European transition to full monetary union.
Download or read book Optimal Currency Areas and the Euro Volume I written by Johannes Kabderian Dreyer and published by Springer Nature. This book was released on 2020-06-12 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses business cycles synchronization in the Euro Area (EA), one of the 3 criteria that define Optimal Currency Areas (OCAs). Even before its launch, economists questioned whether the EA has what it takes to become an OCA. The onset of the sovereign debt crisis in 2010 confirmed the challenges relating to its construction. But did the EA change over time, and what key drivers may be necessary in the future to strengthen the common currency?
Download or read book The Economics of Monetary Unions written by Juan E. Castañeda and published by Routledge. This book was released on 2020-03-16 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, a historical analysis of the precedents of the euro is examined within the context of the current issues affecting the Eurozone and the long-term effects of the institutional changes implemented since 2010. The book begins by placing the Eurozone challenges in the historical context of previous monetary unions, drawing on the experience of the gold standard. It then specifically focuses on the problems arising from the running of permanent trade imbalances within the Eurozone. The authors explore the advantages and disadvantages of being a member of the Eurozone and attempt to measure the optimality of a currency area by the calculation of an index on internal macroeconomic asymmetries. They address the proposals recently made in favour of a fiscal union in the Euro zone; including the economic and political feasibility of fiscal transfers in the Eurozone. The final two papers discuss whether the monetary union is in fact more than just that, and whether it will lead inevitably to some form of political union if it is to survive. With chapters by leading experts from both Europe and the UK, this book will appeal to students in Economics, Finance, Politics, EU integration and European studies; as well as academics and professional economists doing research in EU integration, the Euro zone, monetary history and monetary and banking unions in Europe, the UK and elsewhere.
Download or read book The Theory of Optimal Currency Areas Pros and Cons of the Eurozone written by Thorsten Mannherz and published by GRIN Verlag. This book was released on 2017-10-17 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Currency Unions written by Alberto Alesina and published by Hoover Institution Press. This book was released on 2013-11-01 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency Unions reviews the traditional case for flexible exchange rates and "countercyclical"—that is, expansionary during recessions and contractionary in booms—monetary policy, and shows how flexible exchange rate regimes can better insulate the economy from such real disturbances as terms-of-trade shocks. The book also looks at the pitfalls of flexible exchange rates—and why fixed rates, particularly full dollarization—might be a more sensible choice for some emerging-market countries. The contributors also detail the factors that determine the optimal sizes of currency unions, explain how currency union greatly expands the volume of international trade among its members, and examine the recent implementation of dollarization in Ecuador.
Download or read book Economic Analysis of the Digital Economy written by Avi Goldfarb and published by University of Chicago Press. This book was released on 2015-05-08 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.
Download or read book The Future of Money written by Benjamin J. Cohen and published by Princeton University Press. This book was released on 2004 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a thoughtful, amply documented reflection on the future of currency. The dollar, euro and yen dominate the global monetary order, with the dollar now unrivaled at the top and unlikely to be threatened in the future. The countries that issue lesser currencies face a trade-off between monetary sovereignty and international acceptability (with all its economic advantages). Some economists say these lesser currencies should simply dollarize, that is, sacrifice their monetary sovereignty on the altar of international economic efficiency by adopting a stronger currency as their own. Author Benjamin J. Cohen argues that these countries are likely to reject dollarization because the emotional and political advantages of issuing one's own currency are simply too strong. He suggests various alternate mechanisms that allow countries to maintain some monetary independence and authority while gaining the advantages of a fully liquid, widely used currency. Non-specialists may find his extensive discussions a bit dry or sometimes tedious, but getAbstract.com applauds the author's ability to explore monetary economics in admirably lucid detail.
Download or read book Collected Works of Harry G Johnson Economics of common currencies written by Harry Gordon Johnson and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Is it beneficial for the African Union to introduce a Common Currency written by Katharina Osterholt and published by GRIN Verlag. This book was released on 2012-05-22 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2011 in the subject Business economics - Investment and Finance, grade: B bzw. 1.7, BI Norwegian Business School, course: Development Studies; Trade, Aid and Microfinance, language: English, abstract: This paper deals with the question whether a common currency is beneficial for the African Union. In order to assess this question, potential problems will be analysed and highlighted. The topic of a common currency becomes important in terms of economic growth that can facilitate sustainable development. The African Monetary Union is an economic and monetary union. The plan to introduce a common currency is based on the Abuja Treaty that was signed on 3.6.1991 in Abuja, Nigeria. In this treaty it was decided to set up an African Economic Community, an African Central Bank and an African Economic Community with a single currency by around 2020 (Masson, Milkiewicz, 2003). Up to today most countries have not signed this proposal as some decided to form their own currency unions, some want to delay the starting date and some are already using currencies from other countries. The paper will start looking at the advantages and disadvantages of a common currency and putting it into context with sustainable development. Here it can be highlighted that a successful and stable common currency can foster economic growth and therefore result in higher sustainable development. Further on, the paper looks into the theories of an Optimum Currency Area, Economic shocks, Spillover effects, currency adjustments and development traps. In order to analyze these theories the analysis part is looking into these using inflation rate data, GNI per capita and trade pattern provided by the IMF, the World Bank and UNECA, while contrasting it with the difficulties due to the development traps.
