Currency bloc formation as a dynamic process based on trade network externalities /
Saved in:
| Author / Creator: | Yehoue, Etienne B., author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2004. |
| Description: | 1 online resource (35 pages). |
| Language: | English |
| Series: | IMF working paper, 2227-8885 ; WP04/222 IMF working paper ; WP/04/222. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496285 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 no.04/222 | |
| 100 | 1 | |a Yehoue, Etienne B., |e author. |0 http://id.loc.gov/authorities/names/no2005028997 | |
| 245 | 1 | 0 | |a Currency bloc formation as a dynamic process based on trade network externalities / |c prepared by Etienne B. Yehoue. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2004. | ||
| 300 | |a 1 online resource (35 pages). | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
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| 490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP04/222 | |
| 500 | |a "November 2004." | ||
| 500 | |a At head of title: IMF Institute. | ||
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| 533 | |a Electronic reproduction. |b [S.l.] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
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| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 520 | |a The recent experience of the European Economic and Monetary Union (EMU) has stimulated the debate over currency union and reinforced the incentive for the emergence of currency blocs in other regions of the world. This paper builds a dynamic stochastic model-based on network externalities operating through trade channels-to explain the emergence of currency blocs, and specifically, why some countries join a currency union earlier than others. The paper develops and formalizes the intuition that currency bloc formation is path dependent, and that countries join currency blocs sooner the more they trade with the bloc member countries, with each additional member serving in a dynamic way to attract more members into the bloc. Evidence from the current pattern of EMU expansion supports the model, which is later used to elaborate on the pattern of further expansion of the union. | ||
| 505 | 0 | |a "Contents"; "I. INTRODUCTION"; "II. THE MODEL"; "III. CHARACTERIZING THE DYNAMIC AND EQUILIBRIUM OUTCOME"; "IV. CONCLUSIONS"; "REFERENCES" | |
| 504 | |a Includes bibliographical references. | ||
| 650 | 0 | |a Monetary unions |z European Union countries |x Econometric models. | |
| 650 | 0 | |a Trade blocs |z European Union countries |x Econometric models. | |
| 651 | 0 | |a European Union countries |x Commercial policy |x Econometric models. | |
| 650 | 6 | |a Unions monétaires |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 6 | |a Blocs commerciaux |z Pays de l'Union européenne |x Modèles économétriques. | |
| 651 | 6 | |a Pays de l'Union européenne |x Politique commerciale |x Modèles économétriques. | |
| 650 | 7 | |a Commercial policy |x Econometric models. |2 fast |0 (OCoLC)fst00869570 | |
| 650 | 7 | |a Monetary unions |x Econometric models. |2 fast |0 (OCoLC)fst01025261 | |
| 650 | 7 | |a Trade blocs |x Econometric models. |2 fast |0 (OCoLC)fst01153813 | |
| 651 | 7 | |a European Union countries. |2 fast |0 (OCoLC)fst01269470 | |
| 655 | 4 | |a Electronic books. | |
| 655 | 0 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund, |e issuing body. |0 http://id.loc.gov/authorities/names/n81052755 | |
| 710 | 2 | |a IMF Institute. |0 http://id.loc.gov/authorities/names/n81065613 | |
| 776 | 0 | 8 | |i Print version: |a Yehoue, Etienne B. |t Currency bloc formation as a dynamic process based on trade network externalities. |d [Washington, D.C.] : International Monetary Fund, ©2004 |w (OCoLC)57556404 |
| 830 | 0 | |a IMF working paper ; |v WP/04/222. |0 http://id.loc.gov/authorities/names/no89010263 | |
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