G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11850
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
URLhttps://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。