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Monetary Unions and External Shocks

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Author Info
Etienne Farvaque () (University of Lille 1)
Norimichi Matsueda () (Kwansei Gakuin University)

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Abstract

According to Bordo and James [2008, “A long term perspective on the Euro, ” NBER Working Paper, No. 13815], history shows that multinational monetary unions have dissolved mainly under the consequences of external shocks. This paper provides a theoretical model demonstrating their point.

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File URL: http://192.218.163.163/RePEc/pdf/kgdp42.pdf
File Format: application/pdf
File Function: First version, 2008
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Publisher Info
Paper provided by School of Economics, Kwansei Gakuin University in its series Discussion Paper Series with number 42.

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Length: 11 pages
Date of creation: Oct 2008
Date of revision: Oct 2008
Handle: RePEc:kgu:wpaper:42

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Related research
Keywords: Monetary Union; Optimum Currency Areas; External Shocks.;

Find related papers by JEL classification:
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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This page was last updated on 2009-11-25.


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