Currency unions

by Alesina, Alberto Barro, Robert J.

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Title Statements

Full title :Currency unions / edited by Alberto Alesina and Robert J. Barro.

Summary

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.--Provided by the publisher.

Edition Statements

Publication Date:©2001

Publication Statements

Publisher(s):Hoover Institution Press, Stanford University
Place of Publication:Stanford, California
Language:eng
Publication Date:©2001

Notes

Based on a conference held at the Hoover Institution in May 2000. The present volume includes non-technical summaries of these papers.

The Physical Object

Description:1 online resource (100 pages) : : illustrations.

Edition Identifiers

ISBN:9780817928483, 0817928480
oclc:on1257378622
LC Classification:HG3894
Dewey Decimal:332.4/566

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 BrodaChapter 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

Subjects

Commerce international -- Congrès Conference papers and proceedings Currency question Currency question -- Congresses Debts, External Debts, External -- Congresses Dettes extérieures -- Congrès Financial crises Financial crises -- Congresses International finance International finance -- Congresses International Monetary Fund international trade International trade -- Congresses Monetary policy -- Congresses. -- Inter… Monetary policy -- International cooper… Monetary unions Monetary unions -- Congresses Politique monétaire -- Congrès. -- Coop… Unions monétaires -- Congrès