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Economic aspects of regional currency areas and the use of foreign currencies

In: Regional currency areas and the use of foreign currencies

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  • John Hawkins

    (Bank for International Settlements)

  • Paul Masson

    (Bank for International Settlements)

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  • John Hawkins & Paul Masson, 2003. "Economic aspects of regional currency areas and the use of foreign currencies," BIS Papers chapters,in: Bank for International Settlements (ed.), Regional currency areas and the use of foreign currencies, volume 17, pages 4-42 Bank for International Settlements.
    • Handle: RePEc:bis:bisbpc:17-01
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    File URL: http://www.bis.org/publ/bppdf/bispap17c.pdf
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    References listed on IDEAS

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    3. Ogawa, Eiji & Ito, Takatoshi, 2002. "On the Desirability of a Regional Basket Currency Arrangement," Journal of the Japanese and International Economies, Elsevier, vol. 16(3), pages 317-334, September.
    4. Marc Flandreau & Mathilde Maurel, 2005. "Monetary Union, Trade Integration, and Business Cycles in 19th Century Europe," Open Economies Review, Springer, vol. 16(2), pages 135-152, April.
    5. Robert Barro & Silvana Tenreyro, 2007. "Economic Effects Of Currency Unions," Economic Inquiry, Western Economic Association International, vol. 45(1), pages 1-23, January.
    6. Belkacem Laabas and Imed Limam, "undated". "Are GCC Countries Ready for Currency Union?," API-Working Paper Series 0203, Arab Planning Institute - Kuwait, Information Center.
    7. Nienke Oomes, 2003. "Network Externalities and Dollarization Hysteresis; The Case of Russia," IMF Working Papers 03/96, International Monetary Fund.
    8. Guillermo A. Calvo & Carmen M. Reinhart, 2002. "Fear of Floating," The Quarterly Journal of Economics, Oxford University Press, vol. 117(2), pages 379-408.
    9. Berg, Andrew & Borensztein, Eduardo & Mauro, Paolo, 2002. "An evaluation of monetary regime options for Latin America," The North American Journal of Economics and Finance, Elsevier, vol. 13(3), pages 213-235, December.
    10. Toniolo, Gianni & Conte, Leandro & Vecchi, Giovanni, 2003. "Monetary Union, institutions and financial market integration: Italy, 1862-1905," Explorations in Economic History, Elsevier, vol. 40(4), pages 443-461, October.
    11. Ansgar Belke & Daniel Gros, 2002. "Monetary Integration in the Southern Cone: Mercosur is not like the EU?," Working Papers 72, Oesterreichische Nationalbank (Austrian Central Bank).
    12. John Hawkins, 2001. "Electronic finance and monetary policy," BIS Papers chapters,in: Bank for International Settlements (ed.), Electronic finance: a new perspective and challenges, volume 7, pages 98-105 Bank for International Settlements.
    13. Belke, Ansgar & Gros, Daniel, 2002. "Monetary integration in the Southern Cone," The North American Journal of Economics and Finance, Elsevier, vol. 13(3), pages 323-349, December.
    14. David Hargreaves & Andy Brookes & Carrick Lucas & Bruce White, 2000. "Can hedging insulate firms from exchange rate risk," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 63, March.
    15. Sebastian Edwards & I. Igal Magendzo, 2001. "Dollarization, Inflation and Growth," NBER Working Papers 8671, National Bureau of Economic Research, Inc.
    16. Xavier Debrun & Paul Masson & Catherine Pattillo, 2005. "Monetary union in West Africa: who might gain, who might lose, and why?," Canadian Journal of Economics, Canadian Economics Association, vol. 38(2), pages 454-481, May.
    17. Klein, Michael W., 2005. "Dollarization and trade," Journal of International Money and Finance, Elsevier, vol. 24(6), pages 935-943, October.
    18. Kenen, Peter B., 2000. "Currency areas, policy domains, and the institutionalization of fixed exchange rates," LSE Research Online Documents on Economics 20170, London School of Economics and Political Science, LSE Library.
    19. Marvin Barth & Eli Remolona & Philip Wooldridge, 2002. "Changes in market functioning and central bank policy: an overview of the issues," BIS Papers chapters,in: Bank for International Settlements (ed.), Market functioning and central bank policy, volume 12, pages 1-24 Bank for International Settlements.
    20. Robert N. McCauley & William R. White, 1997. "The Euro and European financial markets," BIS Working Papers 41, Bank for International Settlements.
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    22. Gerald P. Dwyer & James R. Lothian, 2002. "International money and common currencies in historical perspective," FRB Atlanta Working Paper 2002-7, Federal Reserve Bank of Atlanta.
    23. David Hargreaves & C John McDermott, 1999. "Issues relating to optimal currency areas: theory and implications for New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, September.
    24. Michael R. Pakko & Howard J. Wall, 2001. "Reconsidering the trade-creating effects of a currency union," Review, Federal Reserve Bank of St. Louis, issue May, pages 37-46.
    25. Gomis-Porqueras, Pere & Serrano, Carlos & Somuano, Alejandro, 2000. "Currency substitution in Latin America - lessons from the 1990s," Policy Research Working Paper Series 2340, The World Bank.
    26. Gabriele Galati & Kostas Tsatsaronis, 2001. "The impact of the euro on Europe's financial markets," BIS Working Papers 100, Bank for International Settlements.
    27. Thom, Rodney & Walsh, Brendan, 2002. "The effect of a currency union on trade: Lessons from the Irish experience," European Economic Review, Elsevier, vol. 46(6), pages 1111-1123, June.
    28. Mongelli, Francesco Paolo, 2002. "ìNew" Views on the Optimum Currency Area Theory: What is EMU Telling US?," Royal Economic Society Annual Conference 2002 140, Royal Economic Society.
    29. Michel Beine & Serge Coulombe, 2003. "Regional Perspectives on Dollarization in Canada," Journal of Regional Science, Wiley Blackwell, vol. 43(3), pages 541-570.
    30. Christie Smith, 2002. "Currency unions and gravity models revisited," Reserve Bank of New Zealand Discussion Paper Series DP2002/07, Reserve Bank of New Zealand.
    31. Tamim Bayoumi & Paolo Mauro, 2001. "The Suitability of ASEAN for a Regional Currency Arrangement," The World Economy, Wiley Blackwell, vol. 24(7), pages 933-954, July.
    32. Behrouz Guerami & S. Nuri Erbas & George T. Abed, 2003. "The GCC Monetary Union; Some Considerations for the Exchange Rate Regime," IMF Working Papers 03/66, International Monetary Fund.
    33. Michael D. Bordo & Lars Jonung, 1999. "The Future of EMU: What Does the History of Monetary Unions Tell Us?," NBER Working Papers 7365, National Bureau of Economic Research, Inc.
    34. Michael A. Kouparitsas, 2001. "Is the United States an optimum currency area? an empirical analysis of regional business cycles," Working Paper Series WP-01-22, Federal Reserve Bank of Chicago.
    35. Zhang, Zhaoyong & Sato, Kiyotaka & McAleer, Michael, 2004. "Asian monetary integration: a structural VAR approach," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 64(3), pages 447-458.
    36. Stasavage, David, 1997. "The CFA Franc Zone and Fiscal Discipline," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 6(1), pages 132-167, March.
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    Cited by:

    1. Xavier Debrun & Paul R. Masson, 2013. "Modelling Monetary Union in Southern Africa: Welfare Evaluation for the CMA and SADC," South African Journal of Economics, Economic Society of South Africa, vol. 81(2), pages 275-291, June.
    2. Plamen K Iossifov & Misa Takebe & Zaijin Zhan & Noriaki Kinoshita & Robert C York, 2009. "Improving Surveillance Across the CEMAC Region," IMF Working Papers 09/260, International Monetary Fund.
    3. Vieira, Fabrício A.C. & Holland, Márcio & Resende, Marco F., 2012. "Financial dollarization and systemic risks: New empirical evidence," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1695-1714.
    4. Sergey Narkevich & Pavel Trunin, 2012. "Reserve Currencies: Factors of Evolution and their Role in the World Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 162P.
    5. Cappiello, Antonio, 2006. "I currency board come strumento di stabilizzazione economica: come funzionano e dove sono adottati
      [Currency boards as instrument for economic stabilisation: how they work and where they are adopte      ," MPRA Paper 4966, University Library of Munich, Germany.
    6. Dirk Meyer, 2012. "Das Konzept nationaler Parallelwährungen für die Eurozone," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(16), pages 19-28, August.
    7. Tamon Asonuma & Xavier Debrun & Paul R Masson, 2012. "Welfare Effects of Monetary Integration; The Common Monetary Area and Beyond," IMF Working Papers 12/136, International Monetary Fund.
    8. David William Harold Orsmond & Christopher Browne, 2006. "Pacific Island Countries; Possible Common Currency Arrangement," IMF Working Papers 06/234, International Monetary Fund.

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