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|z 9781451866131
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|a 1018-5941
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|a Kannan, Prakash.
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|a On The Welfare Benefits of an International Currency /
|c Prakash Kannan.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2007.
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|a 1 online resource (37 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 Is it beneficial for a country's currency to be used internationally? And, if so, can we quantify the benefit? Since the emergence of the euro, there has been great interest in the consequences of a transfer of the US dollar's premier international role to the euro. Building on recent advancements in the literature on search models of money, this paper presents a novel model-based approach towards assessing the welfare benefits associated with the international use of a country's currency. The welfare gain for the Euro area in having the euro internationally used ranges from 1.7% to 2.1% of consumption.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2007/049
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2007/049/001.2007.issue-049-en.xml
|z IMF e-Library
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