G2TT
来源类型Discussion paper
规范类型论文
来源IDDP604
DP604 Options for a New Monetary Framework for the Area of the Soviet Union
Peter Bofinger
发表日期1991-11-30
出版年1991
语种英语
摘要The paper discusses alternative options for a future monetary order in the area of the Soviet Union. Its main focus is on two questions: Under what conditions would a common rouble currency area be compatible with fiscal discipline and effective financial control over the large numbers of state-owned enterprises? If a transition to separate republican currencies is unavoidable, how can its effects on trade flows within the area of the Soviet Union be kept as small as possible? The paper analyses four options for a monetary union: the relatively unspecified Draft Treaty proposal by Yavlinsky; a monetary union according to the outline of the European System of Central Banks; a monetary union according to the model of a currency board; and a common central bank system managed by representatives from international institutions. If a system of separate currencies is to be introduced, it is essential that all republics peg to the same outside anchor, preferably the ECU. A common fixed rate system between the republics as well as a multilateral payments union could contribute to a reduction of the need for aggregate foreign exchange.
主题International Macroeconomics
关键词Economic transition Monetary union Payments union Soviet union
URLhttps://cepr.org/publications/dp604
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/529754
推荐引用方式
GB/T 7714
Peter Bofinger. DP604 Options for a New Monetary Framework for the Area of the Soviet Union. 1991.
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