Common-Currency Areas in Practice
نویسنده
چکیده
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 are as integrated economically as regions within nations. I find that while a common currency enhances economic integration, the degree of integration is far smaller than within nations.
منابع مشابه
An Investigation of the Effect of a Common Currency on Bilateral Trade
Developing economic relations with the countries of the world is necessary for any country, and the nations of the world are always looking to build their business. The expansion of the phenomenon of economic globalization has led states to engage in countries' engagement in pursuing their interests in the form of regional cooperation and the formation of monetary :union:s. Therefore, according...
متن کاملEstimation the amount of currency outflow arising from publishing articles in foreign journals and providing strategies for resistance economy
Background and aim: The macro-policies of resistance economy emphasize reducing foreign dependencies and preventing unnecessary currency outflows. The purpose of this study was to calculate the amount of currency outflow resulting from the publication of articles in foreign journals and provide the necessary strategies in the field of research. Materials and methods: The present study was a mix...
متن کاملA Dollar or Yen
There are pros and cons for different countries to join a union and adopt a common currency. The European economic and monetary union is viewed to generate fewer costs and deliver greater benefits to its members. Several studies evaluate whether natural currency areas emerge based on historical pattern of international trade and of co-movements of prices and outputs, and found a well-defined do...
متن کاملمنافع و هزینههای پول مشترک در بازارهای مشترک اسلامی
It is inevitable to have a common currency to do business and trading transactions within the Islamic Common Market. To fully comprehend the high significance of Islamic Common Currency, suffice it that one notices euro and US dollar used in transactions among member countries of Islamic Common Market are channeled to inject Islamic countries’ capitals into western and European economies while ...
متن کاملCurrency ::union:: and Bilateral Trade: Evidence from OIC Countries
In recent years, there has been an increasing interest in currency :union:s internationally. The formation of currency :union: in Organization of Islamic Cooperation (OIC) has drawn much attention of Islamic countries. This paper aims to investigate the effect of currency :union: formation for trade among 49 Islamic countries over the period 1990-2012 by OCA and Augmented Gravity Model (AGM). T...
متن کامل