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The Currency Reform as the Last Stage of Economic and Monetary Union: Some Policy Questions

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  • Giovannini, Alberto

Abstract

The paper discusses the policy problems involved in replacing several national currencies with a single currency in a monetary union. 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.

Suggested Citation

  • Giovannini, Alberto, 1991. "The Currency Reform as the Last Stage of Economic and Monetary Union: Some Policy Questions," CEPR Discussion Papers 591, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:591
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    Cited by:

    1. Lehment, Harmen & Scheide, Joachim, 1992. "Die europäische Wirtschafts- und Währungsunion: Probleme des Übergangs," Open Access Publications from Kiel Institute for the World Economy 1513, Kiel Institute for the World Economy (IfW).

    More about this item

    Keywords

    Currency Reform; Exchange Rate Devaluation;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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