Monetary Unions and External Shocks
Etienne Farvaque and
Norimichi Matsueda
No 42, Discussion Paper Series from School of Economics, Kwansei Gakuin University
Abstract:
According to Bordo and James [2008, “A long term perspective on the Euro, ” NBER Working Paper, No. 13815], history shows that multinational monetary unions have dissolved mainly under the consequences of external shocks. This paper provides a theoretical model demonstrating their point.
Keywords: Monetary Union; Optimum Currency Areas; External Shocks. (search for similar items in EconPapers)
JEL-codes: E58 E61 F33 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2008-10, Revised 2008-10
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-opm
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