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Currency Unions / Alberto Alesina, Robert J. Barro.
- Format:
- Book
- Author/Creator:
- Alesina, Alberto.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w7927.
- NBER working paper series no. w7927
- Language:
- English
- Subjects (All):
- International trade.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2000.
- Cambridge, Massachussetts : National Bureau of Economic Research, [2000]
- Summary:
- What is the optimal number of currencies in the world? Common currencies affect trading costs and, thereby, the amounts of trade, output, and consumption. From the perspective of monetary policy, the adoption of another country's currency trades off the benefits of commitment to price stability against the loss of an independent stabilization policy. The nature of the tradeoff depends on co-movements of disturbances, on distance, trading costs, and on institutional arrangements such as the willingness of anchor countries to accommodate to the interests of clients.
- Notes:
- Print version record
- September 2000.
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