Currency Unions.
Title:
Currency Unions.
Author:
Alesina, Alberto.
ISBN:
9780817928483
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (100 pages)
Contents:
Front Cover -- Title Page -- Half Title -- Copyright -- Contents -- Acknowledgments -- About the Authors -- Introduction - Alberto Alesina -- Chapter 1: Ecuador and the International Monetary Fund - Stanley Fischer -- Chapter 2: One Country, One Currency? - Alberto Alesina, Robert J. Barro -- Chapter 3: Dollarization and Integration - Charles Engel, Andrew K. Rose -- Chapter 4: An Estimate of the Effect of Currency Unions on Trade and Growth - Jeffrey A. Frankel, Andrew K. Rose -- Chapter 5: Reflections on Dollarization - Guillermo A. Calvo, Carmen M. Reinhart -- Chapter 6: Coping with Terms of Trade Shocks: Pegs versus Floats - Christian Broda -- Chapter 7: Monetary Independence in Emerging Markets: The Role of the Exchange-rate Regime - Eduardo Borensztein, Jeromin Zettelmeyer -- Chapter 8: Dollarization of Liabilities, Financial Fragility, and Exchange-Rate Policy - Luis Felipe Cespedes, Roberto Chang, Andres Velasco -- Chapter 9: Do We Really Need a New Global Monetary Compact? - Maurice Obstfeld, Kenneth Rogoff -- Index.
Abstract:
Currency Unions reviews the traditional case for flexible exchange rates and "countercyclical"-that is, expansionary during recessions and contractionary in booms-monetary policy, and shows how flexible exchange rate regimes can better insulate the economy from such real disturbances as terms-of-trade shocks. The book also looks at the pitfalls of flexible exchange rates-and why fixed rates, particularly full dollarization-might be a more sensible choice for some emerging-market countries. The contributors also detail the factors that determine the optimal sizes of currency unions, explain how currency union greatly expands the volume of international trade among its members, and examine the recent implementation of dollarization in Ecuador.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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