Price impacts of non-adoption of the Euro for small European countries / prepared by E. Sibel Yelten and Harald Anderson.

Debates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a common currency is the maintenance of the status quo. This paper uses the Sjaastad mo...

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Bibliographic Details
Main Authors: Yelten, Sibel (Author), Anderson, Harald (Harald Jens) (Author)
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, Research Dept., ©2006.
Series:IMF working paper ; WP/06/151.
Subjects:
Online Access:Click for online access

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245 1 0 |a Price impacts of non-adoption of the Euro for small European countries /  |c prepared by E. Sibel Yelten and Harald Anderson. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, Research Dept.,  |c ©2006. 
300 |a 1 online resource (20 pages) 
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490 1 |a IMF working paper ;  |v WP/06/151 
504 |a Includes bibliographical references. 
588 0 |a Print version record. 
520 |a Debates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a common currency is the maintenance of the status quo. This paper uses the Sjaastad model to analyze the price-making power of major currencies with regard to the prices of traded goods in small countries that have not adopted the euro and uses the Bayoumi-Eichengreen OCA index methodology to shed further light on changes in Europe. The empirical evidence suggests that small countries that have not adopted the euro have increasingly seen a change in the determinants of their traded goods prices. This seems to contrast with the experience of small countries that adopted the euro. The results need to be interpreted carefully, given the short time series. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2010  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a Contents -- I. INTRODUCTION -- II. OPTIMAL CURRENCY AREA LITERATURE BEFORE 1999 -- III. ESTIMATION METHOD FOR SJAASTAD MODEL -- IV. DATA -- V. ESTIMATION RESULTS -- VI. EUROPEAN ECONOMIES BEFORE AND AFTER THE INTRODUCTION OF THE EURO, AND THE BAYOUMI- EICHENGREEN MODEL -- VII. CONCLUSIONS -- References 
650 0 |a Monetary policy  |z Europe. 
650 0 |a Foreign exchange rates  |z Europe. 
650 0 |a Monetary unions  |z Europe  |x Econometric models. 
650 0 |a Currency question  |z Europe  |x Econometric models. 
650 7 |a Monetary unions  |x Econometric models  |2 fast 
650 7 |a Currency question  |x Econometric models  |2 fast 
650 7 |a Foreign exchange rates  |2 fast 
650 7 |a Monetary policy  |2 fast 
651 7 |a Europe  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJxCxPbbk4CPJDQJb4r6rq 
700 1 |a Anderson, Harald  |q (Harald Jens),  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjFDFGCb4xJyr78TqyH3cP 
776 0 8 |i Print version:  |a Yelten, Sibel.  |t Price impacts of non-adoption of the euro for small European countries.  |d Washington, D.C. : International Monetary Fund, Monetary and Financial Systems Dept., ©2006  |w (OCoLC)74711061 
830 0 |a IMF working paper ;  |v WP/06/151. 
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