On the Optimality of Economic Integration
We uncover conditions on the initial income and net foreign assets of potential union members such that forming a union is welfare-improving over standing alone in the world economy. Our model predicts that economic unions (i) occur relatively infrequently, and are more likely to emerge (ii) among homogeneous countries, and (iii) among rich countries.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mark L. J. Wright, 2004.
"Private capital flows, capital controls, and default risk,"
Federal Reserve Bank of San Francisco, issue Jun.
- Wright, Mark L.J., 2006. "Private capital flows, capital controls, and default risk," Journal of International Economics, Elsevier, vol. 69(1), pages 120-149, June.
- Mark L. J. Wright, 2004. "Private capital flows, capital controls, and default risk," Working Paper Series 2004-34, Federal Reserve Bank of San Francisco.
When requesting a correction, please mention this item's handle: RePEc:red:sed009:1043. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If references are entirely missing, you can add them using this form.