This paper studies the effects of monetary union enlargement on international trade in a three-country (two incumbent countries and an acceding country) search monetary model. It is shown that, the enlargement of a monetary union is expected to increase international trade and thus be Pareto improving, but may result in trade reduction if too much money is issued, and the degree of integration between the ICs is too high relative to integration with the AC.
Monetary Union Enlargement and International Trade
SENESI, Pietro;
2008
Abstract
This paper studies the effects of monetary union enlargement on international trade in a three-country (two incumbent countries and an acceding country) search monetary model. It is shown that, the enlargement of a monetary union is expected to increase international trade and thus be Pareto improving, but may result in trade reduction if too much money is issued, and the degree of integration between the ICs is too high relative to integration with the AC.File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
BJBE v8 n1-paper01.pdf
non disponibili
Tipologia:
Altro materiale allegato
Licenza:
NON PUBBLICO - Accesso privato/ristretto
Dimensione
767.91 kB
Formato
Adobe PDF
|
767.91 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
