Exit from a Monetary Union through Euroization: Discipline without Chaos
This paper studies the role of exit from a monetary union during a debt crisis. A monetary union, such as the European Monetary Union, needs to establish a procedure for exit as a tool to cope with debt default. The paper studies various forms of exit and argues that "Euroization" is both a credible and effective means of punishment for countries in default.
|Date of creation:||Mar 2012|
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- Russell Cooper & Hubert Kempf & Dan Peled, 2008.
"Regional Debt in Monetary Unions: Is it Inflationary ?,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
- Cooper, Russell & Kempf, Hubert & Peled, Dan, 2010. "Regional debt in monetary unions: Is it inflationary?," European Economic Review, Elsevier, vol. 54(3), pages 345-358, April.
- Russell Cooper & Hubert Kempf & Dan Peled, 2008. "Regional debt in monetary unions : is it inflationary ?," Documents de travail du Centre d'Economie de la Sorbonne v08070, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Hubert Kempf & Russell Cooper & Dan Peled, 2010. "Regional Debt in Monetary Unions: Is it Inflationary?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00468945, HAL.
- Cooper, R. & Kempf, H. & Peled, D., 2007. "Regional Debt in Monetary Unions: Is it Inflationary?," Working papers 186, Banque de France.
- Scott, Hal S, 1998. "When the Euro Falls Apart," International Finance, Wiley Blackwell, vol. 1(2), pages 207-228, December.
- Eric Dor, 2011. "Leaving the euro zone: a user’s guide," Working Papers 2011-ECO-06, IESEG School of Management.
- Eduardo Borensztein & Andrew Berg, 2000. "The Pros and Cons of Full Dollarization," IMF Working Papers 00/50, International Monetary Fund.
- Smith, Bruce D, 1994. "Efficiency and Determinacy of Equilibrium under Inflation Targeting," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(3), pages 327-344.
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