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|a Cashin, Paul.
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|a The Eastern Caribbean Currency Union :
|b Would a Fiscal Insurance Mechanism Mitigate National Income Shocks? /
|c Paul Cashin, Antonio Lemus.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (23 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 studies the nature of the shocks affecting the Eastern Caribbean Currency Union (ECCU), and examines whether a hypothetical Eastern Caribbean fiscal insurance mechanism could insure member countries of the union against asymmetric national income shocks. The empirical results suggest that a one dollar reduction in an ECCU member country's per capita personal income could trigger, through reduced income taxes and increased transfers, flows equivalent to about 7 percent of the initial income shock. Each member of the currency union could benefit as well, although the extent of shock mitigation differs across individual countries.
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|a Mode of access: Internet
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|a Lemus, Antonio.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/017
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/017/001.2012.issue-017-en.xml
|z IMF e-Library
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