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dc.rights.licensehttp://rightsstatements.org/page/InC/1.0/?language=eses_AR
dc.contributor.authorPowell, Andrew
dc.contributor.authorSturzenegger, Federico
dc.date.accessioned2017-04-07T19:07:59Z
dc.date.available2017-04-07T19:07:59Z
dc.date.issued2002
dc.identifier.urihttp://repositorio.utdt.edu/handle/utdt/6270
dc.description.abstractIn Europe, twelve countries have joined a currency union but four have stayed out. The EU enlargement process implies a large set of potential EMU entrants. In Latin America, two countries have recently dollarized and regional currencies have also been a recurring theme. We develop a theoretical model in which countries are exposed to real and monetary shocks of both a systemic and individual nature. The model suggests when countries should float, form a CU or fix to an anchor as a function of their sensitivity to systemic shocks and the size of individual shocks. In an empirical analysis we consider a set of countries in Latin America. We find that what is beneficial for a given country depends on the actions of others. Integration may then be path dependent, and all roads may not lead to Rome.
dc.description.sponsorshipPara cualquier uso del contenido del presente documento debe ponerse en contacto con el autor.es_AR
dc.format.extent22 p.
dc.format.mediumapplication/pdfes_AR
dc.publisherUniversidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)
dc.relation.ispartofCentro de Investigaciones Financieras (CIF). Documentos de trabajo 14/2002
dc.rightsinfo:eu-repo/semantics/restrictedAccesses_AR
dc.titleMacroeconomic coordination and monetary unions in a N-country world: Do all roads lead to Rome?
dc.typeinfo:eu-repo/semantics/workingPaper
UTDT.rights.PDF
UTDT.rights.AUTNo
UTDT.source.idn49791
dc.audienceResearchers
dc.audienceStudents
dc.audienceTeachers
dc.type.versioninfo:eu-repo/semantics/acceptedVersiones_AR
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UTDT.source.originothers
dc.subject.UTDTSistemas monetarios
dc.subject.UTDTUnión Europea


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