Currencies, Competition, and Clans
dc.contributor.author | Engelmann, Dirk | |
dc.contributor.author | Hanousek, Jan | |
dc.contributor.author | Kočenda, Evžen | |
dc.date | 2006-08 | |
dc.date.accessioned | 2006-08-30T14:47:35Z | |
dc.date.available | 2006-08-30T14:47:35Z | |
dc.date.issued | 2006-08-30T14:47:35Z | |
dc.identifier.uri | https://hdl.handle.net/2027.42/41248 | |
dc.description.abstract | We present a theoretical and empirical analysis of the question whether stability among the world anchor currencies (G3) is attainable. The theoretical model presented in this paper builds on a model of spatial competition and rests on a set of realistic assumptions related to the behavior of central banks, workings of exchange rate regimes, geography of money, and international monetary arrangements. We show that stability is attainable in the case of two anchor currencies, but not in the case of three. The empirical evidence provides some support for assumptions and conclusions of the model. | en |
dc.format.extent | 631721 bytes | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en |
dc.relation.ispartofseries | 18 | en |
dc.subject | exchange rates, anchor currency, satellite currency, exchange rate regimes, central bank policy, monetary union, spatial competition, geography of money | en |
dc.subject.other | C 72 | en |
dc.subject.other | E 42 | en |
dc.subject.other | E 58 | en |
dc.subject.other | N 20 | en |
dc.subject.other | O 23 | en |
dc.title | Currencies, Competition, and Clans | en |
dc.type | Working Paper | en_US |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationum | International Policy Center (IPC); Gerald R. Ford School of Public Policy | en |
dc.contributor.affiliationother | Department of Economics, Royal Holloway, University of London, United Kingdom | en |
dc.contributor.affiliationother | CERGE-EI, Czech Republic | en |
dc.contributor.affiliationumcampus | Ann Arbor | |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/41248/1/IPC-working-paper-018-EngelmannHanousekKocenda.pdf | en_US |
dc.owningcollname | International Policy Center (IPC) - Working Paper Series |
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