Dollarization: Lessons from Europe and the AmericasLouis-Philippe Rochon, Mario Seccareccia The use of the US dollar for domestic monetary transactions outside the USA has gone on for many years now - Panama in 1904 being the earliest example. Since the advent of the Euro, the debate over the benefits of monetary integration has warmed up - particularly for NAFTA countries. This collection, with contributions from experts such as Philip Arestis, Malcolm Sawyer and Stephanie Bell, examines the various problems and benefits involved in monetary integration and covers the causes of Euro instability, monetary policy in non-optimal currency unions, financial openness and dollarization and the question of dollarization in Canada. This book addresses one of the burning policy issues in Europe and America: is monetary union worthwhile? The readable yet comprehensive style of this book will make it of interest not only to academics and students involved in European integration, financial liberalization and dollarization, but will also be an important book for policy-makers at intergovernmental level. |
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Other editions - View all
Dollarization: Lessons from Europe for the Americas Louis-Phillipe Rochon,Mario Seccareccia Limited preview - 2003 |
Dollarization: Lessons from Europe for the Americas Louis-Phillipe Rochon,Mario Seccareccia Limited preview - 2005 |
Dollarization: Lessons from Europe and the Americas Louis-Philippe Rochon,Mario Seccareccia No preview available - 2003 |
Common terms and phrases
adjustment aggregate American Monetary Union Arestis argue arguments assets Bank of Canada bonds Bundesbank Canadian capital common currency constraints Corsetti currency substitution currency union debt decline deficit demand shocks developments domestic Economic and Monetary Eichengreen electronic Electronic Money ESCB euro area Europe European Central Bank European Monetary Union European Union eurozone exchange rate exogenous expected export facto dollarization Federal Reserve Figure financial markets fiscal policy fiscal stance full employment Functional Finance German Godley growth Hausmann higher impact income increase inflation target institutions interest rate differential investment issue Latin America Maastricht Treaty macroeconomic Marterbauer Mengerian Mexico monetary integration monetary policy Mundell NAMU national central banks national currencies nominal demand North American Monetary optimum currency area output paper Parguez payments system percent Phillips curve political productivity public sector regime relative risk seigniorage single currency Smithin spending stability structure tax rates trade unemployment