Recent Tripolarized international Currency system
نویسندگان
چکیده
منابع مشابه
International Currency Portfolios
The paper develops a theory that endogenizes the currency composition of international nominal bond portfolios in general equilibrium. It emphasizes the critical roles of government debt and of government policies, and thereby reconnects to the partial equilibrium portfolio balance literature of the 1980s. Consistent with recent empirical findings, optimal private sector foreign currency positi...
متن کاملCurrency Unions and International Integration
This paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone). We empirically explore different features of currency unions, and compare them to countries with sovereign monies by examining the criteria for Mundell’s concept of an optimum currency area. We find that members of currency unions are more integrated than countries with their own cur...
متن کاملCurrency Areas and International Assistance
This paper considers a simple stochastic model of international trade with three countries. Two of the tree countries are in an economic union. Comparisons are made between equilibrium welfare for these two countries under fixed and flexible exchange rate regimes. Within the model it is shown that flexible exchange rate regimes generate greater welfare. However, we then consider comparisons of ...
متن کاملCurrency crisis transmission through international trade
☆ The first draft of this paper was written when Jamal dent at University of California, Berkeley. The author wo mous referees for useful comments; Barry Eichengreen, Rose for helpful discussions; and the UC Berkeley Irma ing. Ammar Yasser Safa provided inspiration. The finding sions expressed in this paper are entirely those of the a represent the views of the International Bank for Reco World...
متن کاملSearch- Theoretic Models of International Currency
Search-based theories of the exchange process provide economists with a way of formalizing the microfoundations of monetary economics and to discuss a variety of issues in monetary theory and policy in a new light. Many questions that cannot even be formulated in more traditional monetary models can be profitably analyzed in these new models. In this essay, we propose to review recent developme...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The International Economy
سال: 1995
ISSN: 1884-4359,0387-3943
DOI: 10.5652/kokusaikeizai.1995.3