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Miniblocs and Fringe Currencies of the EMU

Author

Listed:
  • Honohan, Patrick

    () (World Bank and CEPR)

Abstract

Like all major currencies, the Euro will attract a fringe of hangers-on. For EMU participants, the most important will be those with which participants already have significant trading and other economic relationships. These relation - ships are not homogeneous across the EMU, but instead we can identify seven or more miniblocs, most of either are, or will be, split by the EMU. Stabilizing real exchange rate movements within these miniblocs could be of value in reducing the impact on EMU participants of asymmetric shocks. Possible institutional arrange - ments to give effect to such a goal are considered.

Suggested Citation

  • Honohan, Patrick, 2000. "Miniblocs and Fringe Currencies of the EMU," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 15, pages 47-75.
  • Handle: RePEc:ris:integr:0124
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    Cited by:

    1. Michael Artis & Marion Kohler & Jacques MĂ©litz, 1998. "Trade and the Number of OCAs in the World," Open Economies Review, Springer, vol. 9(1), pages 537-568, January.
    2. Honohan, Patrick & Lane, Philip R, 1999. "Pegging to the Dollar and the Euro," International Finance, Wiley Blackwell, vol. 2(3), pages 379-410, November.
    3. Patrick Honohan & Philip R. Lane, 2003. "Divergent inflation rates in EMU," Economic Policy, CEPR;CES;MSH, vol. 18(37), pages 357-394, October.

    More about this item

    Keywords

    European Monetary Union; Currency unions;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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