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currency union

An exact pricing formula for European call options on zero-coupon bonds in the run-up to a currency union

An exact pricing formula for European call options on zero-coupon bonds in the run-up to a currency union

... Abstract. In this paper we analyze the dynamics of zero-coupon bond options in a situation in which two open economies plan to enter a currency union in the future. More precisely, we make use of recent ...

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Optimal Monetary and Fiscal Policy with Migration in a Currency Union

Optimal Monetary and Fiscal Policy with Migration in a Currency Union

... of currency unions in the New Monetarist ...one currency, endogenizes migration, and instead of studying the conditions under which different currency regimes arise, we take the existence of a ...

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Australia-New Zealand Currency Union: A Structural Approach

Australia-New Zealand Currency Union: A Structural Approach

... how currency union might qualitatively influence welfare ...in currency union as a result of reduced autonomy in setting monetary ...in currency union due to the conservative ...

35

Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation

Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation

... the union-wide monetary policy ...a currency union are allowed to face di¤erent imported in‡ation as stemming from a di¤erent commodity com- position of their international trade and di¤erent ...

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An Analysis of the Proposed Currency Union of the Economic Community of West African States (ECOWAS)

An Analysis of the Proposed Currency Union of the Economic Community of West African States (ECOWAS)

... single currency yields benefits of lower transaction costs associated with trading goods and services between countries with different ...that currency exchange between currency union members ...

326

What inflation measure should a currency union target?

What inflation measure should a currency union target?

... a currency union, when conducting monetary policy: core inflation or headline inflation? We answer the question in a two-country New Keynesian model with an energy ...

40

Financial Development, Currency Union and Dynamic Growth in West Africa: A Panel Investigation

Financial Development, Currency Union and Dynamic Growth in West Africa: A Panel Investigation

... monetary union are likely to be larger for relatively open ...monetary union, transaction costs and exchange risk are large for firms in open economies than in countries with monetary ...Monetary ...

14

Private Consumption Expenditure in the Eastern Caribbean Currency Union

Private Consumption Expenditure in the Eastern Caribbean Currency Union

... This paper innovates by being the first to estimate a consumption function of a monetary union as a single entity. It is also the first empirical consumption research on the Eastern Caribbean Currency ...

14

PAYMENTS AND SECURITIES CLEARANCE AND SETTLEMENT SYSTEMS IN THE EASTERN CARIBBEAN CURRENCY UNION

PAYMENTS AND SECURITIES CLEARANCE AND SETTLEMENT SYSTEMS IN THE EASTERN CARIBBEAN CURRENCY UNION

... The improved system seeks to meet international standards, i.e. the Core Principles for Systemically Important Payment Systems issued by the Committee on Payment and Settlement Systems ( CPSS ), and at least strike ...

86

What Does the Taylor Rule Say About a New Zealand Australia Currency Union?*

What Does the Taylor Rule Say About a New Zealand Australia Currency Union?*

... If currency union were accompanied by the introduction of a trans-Tasman fiscal stabilisation mechanism, the need for independ- ent monetary policy across the two countries would be reduced, so ...

9

Monetary Policy in a Currency Union with Heterogeneous Limited Asset Markets Participation

Monetary Policy in a Currency Union with Heterogeneous Limited Asset Markets Participation

... the union is only shared by the Ricardian consumers. While the union as a whole can react to a negatively sloping IS relation by adopting a passive interest-rate rule, an individual country cannot do so and ...

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Monetary policy transmission mechanisms and currency unions A vector error correction approach to a Trans-Tasman currency union

Monetary policy transmission mechanisms and currency unions A vector error correction approach to a Trans-Tasman currency union

... Our analysis from individual country models provides qualified evidence that the monetary policy transmission mechanisms of New Zealand and Australia are similar in many respects, especially in terms of the speed and the ...

25

Optimal Monetary Policy in a Currency Union with Interest Rate Spreads

Optimal Monetary Policy in a Currency Union with Interest Rate Spreads

... our currency union set-up help provide new results such as those related to monetary policy trade-o¤s and optimal monetary policy response to country-speci…c productivity shocks and an aggregate …nancial ...

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Donald T Brash: The pros and cons of currency union - a Reserve Bank perspective

Donald T Brash: The pros and cons of currency union - a Reserve Bank perspective

... own currency for many decades, and since March 1985 that currency has been floating against other currencies, with its value determined day to day in the financial ...a currency union, and ...

7

The effect of a currency union on trade: Lessons from the Irish experience

The effect of a currency union on trade: Lessons from the Irish experience

... a currency union? This section deals with the complementary cross-section question, does the use of a common currency explain why members of a currency union trade more with each other ...

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Influence of institutional factors and wage setting mechanism in a dual labour market with currency union: Northern Cyprus

Influence of institutional factors and wage setting mechanism in a dual labour market with currency union: Northern Cyprus

... a currency union. The small economy adopts the currency of the large and is highly dependent on its wealthier partner for ...a currency union, deficit financing and institutional ...

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A "Simple" Currency Union Model with Labor Market Frictions, Real Wage Rigidities and Equilibrium Unemployment

A "Simple" Currency Union Model with Labor Market Frictions, Real Wage Rigidities and Equilibrium Unemployment

... DSGE currency union model with labor market frictions, real wage rigidities and price ...the currency union and the size and persistence of in‡ation and output ...

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Optimal monetary and fiscal policy in a currency union

Optimal monetary and fiscal policy in a currency union

... a currency union, and study its implications for the optimal design of such ...the union as a ...the union level by the common central ...the union as a ...

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Fiscal and monetary rules for a currency union

Fiscal and monetary rules for a currency union

... This paper addresses the question of the joint conduct of fiscal and monetary policy in a currency union. The problem is studied using a two-country DSGE framework with staggered price setting, monopolistic ...

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The dynamic effects of currency union on trade

The dynamic effects of currency union on trade

... A currency union’s ability to increase international trade has been one of the most debated questions in international macroeconomics, especially since Rose (2000) found potentially large effects in historical ...

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