Search results for "Currency Unions"

showing 3 items of 3 documents

Moving closer? Comparing regional adjustments to shocks in EMU and the United States

2020

Highlights • Interstate migration is the main adjustment channel to labor demand shocks for the US. • EMU countries adjust through changes in labor force participation and unemployment. • Price flexibility is more important as a shock absorber for EMU. • Risk-sharing mechanisms have been more effective in the US than in the EMU. • The strength of these channels has increased for EMU ad declined for the United States.

Flexibility (engineering)Economics and EconometricsLabor mobility2019-20 coronavirus outbreak050208 financeRisk-sharingEuroCurrency UnionsSevere acute respiratory syndrome coronavirus 2 (SARS-CoV-2)media_common.quotation_subject05 social sciencesLabor demandSettore SECS-P/02 Politica EconomicaMonetary economicsExchange-rate flexibilityFull sampleArticleRegional adjustments0502 economics and businessUnemploymentEconomics050207 economicsFinancemedia_commonJournal of International Money and Finance
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Form Currency Unions to a World Currency: A Possibility?

2007

The purpose of this paper is to analyze the main macroeconomic determinants of benefits and costs by undertaking processes of monetary integration and to investigate the possibility that currency unions could lead to the creation of a global currency in the future. In particular, we will consider two main determinants of costs and benefits predicted by the theory of Optimum Currency Areas: (i) the business-cycle correlation between the candidate’s economy and that of the currency zone as a whole, and (ii) the candidate economy’s inflation gain. Using this methodology, the results of the paper provide empirical evidence of the existence of several optimal currency areas in the world. Moreove…

currency unions
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Essays in Macroeconomics: Growth, Macroeconomic Volatility and Currency Unions

2011

Essays in Macroeconomics: Growth, Macroeconomic Volatility and Currency Unions Essays in Macroeconomics: Growth, Macroeconomic Volatility and Currency Unions

Essays in Macroeconomics: Growth Macroeconomic Volatility and Currency Unions
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