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Author Yelten, Sibel, author

Title Price impacts of non-adoption of the Euro for small European countries / prepared by E. Sibel Yelten and Harald Anderson
Published [Washington, D.C.] : International Monetary Fund, Research Dept., [2006]
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Description 1 online resource (20 pages)
Series IMF working paper ; WP/06/151
IMF working paper ; WP/06/151
Summary 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
Bibliography Includes bibliographical references
Notes 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. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Foreign exchange rates -- Europe.
Monetary policy -- Europe.
Form Electronic book
Author Anderson, Harald (Harald Jens), author
ISBN 1282392522