Currency unions
著者
書誌事項
Currency unions
（Hoover Institution publication, no. 496）
Hoover Institution Press, c2001
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注記
Based on a conference held at the Hoover Institution in May 2000
"The present volume includes nontechnical summaries of these papers" -- Introd
Includes bibliographical references and index
内容説明・目次
内容説明
Currency Unions reviews the traditional case for flexible exchange rates and "countercyclical"-that is, expansionary during recessions and contractionary in booms-monetary policy, and shows how flexible exchange rate regimes can better insulate the economy from such real disturbances as terms-of-trade shocks. The book also looks at the pitfalls of flexible exchange rates-and why fixed rates, particularly full dollarization-might be a more sensible choice for some emerging-market countries. The contributors also detail the factors that determine the optimal sizes of currency unions, explain how currency union greatly expands the volume of international trade among its members, and examine the recent implementation of dollarization in Ecuador.
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