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|z 9781451849837
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Ricci, Luca.
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|a A Model of an Optimum Currency Area /
|c Luca Ricci.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1997.
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|a 1 online resource (41 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper investigates the circumstances under which it is beneficial to participate in a currency area. A two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of real shocks, international factor mobility, fiscal adjustment, openness, difference in national inflationary biases, correlation of monetary shocks, and benefits of a single currency. The effect of openness on the net benefits is ambiguous, contrary to the usual argument that more open economies are better candidates for a currency area. Countries do not necessarily agree on whether a given currency union should be created.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1997/076
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1997/076/001.1997.issue-076-en.xml
|z IMF e-Library
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