| 000 | 02254nam a22003614a 4500 | ||
|---|---|---|---|
| 001 | WPIEA2017055 | ||
| 003 | IMF | ||
| 005 | 20190405191833.0 | ||
| 006 | m o d | ||
| 007 | cr cn||||||||| | ||
| 008 | 020129s2017 dcu o i00 0 eng d | ||
| 020 |
_a1475586221 : _c18.00 USD |
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| 020 | _z9781475586220 | ||
| 022 | _a1018-5941 | ||
| 024 | 7 |
_a10.5089/9781475586220.001 _2doi |
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| 035 | _a(IMF)WPIEA2017055 | ||
| 040 |
_aDcWaIMF _beng |
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| 100 | 1 | _aBayoumi, Tamim. | |
| 245 | 1 | 0 |
_aAftershocks of Monetary Unification _h[electronic resource] : _bHysteresis with a Financial Twist / _cTamim Bayoumi. |
| 260 |
_aWashington, D.C. : _bInternational Monetary Fund, _c2017. |
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| 300 | _a1 online resource (26 p.) | ||
| 490 | 1 | _aIMF Working Papers | |
| 520 | 3 | _aOnce upon a time, in the 1990s, it was widely agreed that neither Europe nor the United States was an optimum currency area, although moderating this concern was the finding that it was possible to distinguish a regional core and periphery (Bayoumi and Eichengreen, 1993). Revisiting these issues, we find that the United States is remains closer to an optimum currency area than the Euro Area. More intriguingly, the Euro Area shows striking changes in correlations and responses which we interpret as reflecting hysteresis with a financial twist, in which the financial system causes aggregate supply and demand shocks to reinforce each other. An implication is that the Euro Area needs vigorous, coordinated regulation of its banking and financial systems by a single supervisor-that monetary union without banking union will not work. | |
| 588 | _aDescription based on print version record. | ||
| 650 | 7 |
_aDeveloped Countries _2imf |
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| 650 | 7 |
_aMonetary Unions _2imf |
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| 650 | 7 |
_aRegional Shocks _2imf |
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| 651 | 7 |
_aEuro Area _2imf |
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| 651 | 7 |
_aUnited States _2imf |
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| 776 | 0 | 8 |
_iPrint Version: _aBayoumi, Tamim _tAftershocks of Monetary Unification: Hysteresis with a Financial Twist _dWashington, D.C. : International Monetary Fund,2017 _z9781475586220 |
| 830 | 0 | _aIMF Working Papers | |
| 856 | 4 | 0 |
_uhttp://elibrary.imf.org/view/IMF001/24138-9781475586220/24138-9781475586220/24138-9781475586220.xml _zIMF e-Library |
| 856 | 4 | 0 |
_uhttp://www.imfbookstore.org/IMFORG/9781475586220 _zIMF Book Store |
| 999 |
_c162548 _d162548 |
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