The Currency Reform as the Last Stage of Economic and Monetary Union: Some Policy Questions
AbstractThe paper discusses the policy problems of a project aimed at substituting several national currencies with one single currency. While these problems are of general interest, the analysis is motivated by the plan for Economic and Monetary Union among the members of the European Community. The issues discussed include the choice of conversion rates and the effects of exchange-rate devaluations at the time of the monetary reform.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3917.
Date of creation: Nov 1991
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