Monetary Unions and External Shocks
AbstractAccording 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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Bibliographic InfoPaper provided by School of Economics, Kwansei Gakuin University in its series Discussion Paper Series with number 42.
Length: 11 pages
Date of creation: Oct 2008
Date of revision: Oct 2008
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More information through EDIRC
Monetary Union; Optimum Currency Areas; External Shocks.;
Other versions of this item:
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-28 (All new papers)
- NEP-CBA-2008-10-28 (Central Banking)
- NEP-MAC-2008-10-28 (Macroeconomics)
- NEP-MON-2008-10-28 (Monetary Economics)
- NEP-OPM-2008-10-28 (Open Economy Macroeconomic)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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NBER Working Papers
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- Michael D. Bordo & Harold James, 2008.
"A Long Term Perspective on the Euro,"
NBER Working Papers
13815, National Bureau of Economic Research, Inc.
- Corinne Aaron-Cureau & Hubert Kempf, 2006.
"Bargaining over monetary policy in a monetary union and the case for appointing an independent central banker,"
Oxford Economic Papers,
Oxford University Press, vol. 58(1), pages 1-27, January.
- Corinne Aaron-Cureau & Hubert Kempf, 2004. "Bargaining over monetary policy in a monetary union and the case for appointing an independent central banker," Money Macro and Finance (MMF) Research Group Conference 2004 85, Money Macro and Finance Research Group.
- Rudiger Dornbusch & Carlo A. Favero & Francesco Giavazzi, 1998. "The Immediate Challenges for the European Central Bank," NBER Working Papers 6369, National Bureau of Economic Research, Inc.
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