| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11850 |
| DP11850 Aftershocks of Monetary Unification: Hysteresis with a Financial Twist | |
| Tamim Bayoumi | |
| 发表日期 | 2017-02-14 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Once 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. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Monetary unification Euro Hysteresis |
| URL | https://cepr.org/publications/dp11850 |
| 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/540663 |
| 推荐引用方式 GB/T 7714 | Tamim Bayoumi. DP11850 Aftershocks of Monetary Unification: Hysteresis with a Financial Twist. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Tamim Bayoumi]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Tamim Bayoumi]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Tamim Bayoumi]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
