منابع مشابه
Common Currency, Common Market?
Does the common currency promote goods market integration within the EMU? We argue that such an effect is likely, but that the mechanism typically proposed – lover costs of arbitrage because of increased price transparency – is likely to be of minor importance. Instead we sketch a duopoly model which stresses that lover possibility of future real exchange rate variability lowers the option valu...
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In this paper, I attempt to address some of these issues. I examine the behaviour of countries that are or have been members of international currency unions. More precisely, I ask whether existing currency unions replicate the desirable features of optimal currency areas as set out by Mundell (1961). Specifically, I ask whether the countries and political units that constitute currency unions ...
متن کاملPleasure, the common currency of emotions.
The old controversy on whether emotion is independent of cognition 1,2 or dependent on it 3,4 has now advanced considerably. The solution fundamentally depends on how one defines both terms, emotion and cognition. Most authors would agree that emotion could be el icited in the absence of conscious cognition mediation. But, if " cognitive " is taken in a broad sense including basic sensory infor...
متن کاملThe Common Currency of Psychological Distance
People’s thoughts often go beyond what is right in front of them. In so doing, they mentally traverse psychological distance: They think about the past or the future, other places, other people, and wonder about the impossible. These four dimensions all tap into the same common construct of distancing from immediate experience. As a result, people associate each type of distance with the others...
متن کاملThe Euro in the common European market: A single currency increases the comparability of prices
Two studies examine the psychological consequences the introduction of the Euro has for the evaluation and estimation of product prices. Research on comparison processes suggests that a single currency increases the comparability of prices. If this is indeed the case, then a reference price from another European country should be more likely to influence evaluation and estimation of a target pr...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2003
ISSN: 1542-4766,1542-4774
DOI: 10.1162/154247603322391288