Have a Break, Have a ... National Currency: When Do Monetary Unions Fall Apart?

Arbeitspapier

Historically, dissolutions of currency unions are not unusual. I use an annual panel data set covering 245 country pairs that use a common currency (of which 128 are dissolved) from 1948 through 1997 to characterize currency union exits. I find that departures from a currency union tend to occur when there is a large inflation differential between member countries, when the currency union involves a country which is closed to international trade and trade flows dry up, and when there is a change in the political status of a member. In general, however, macroeconomic factors have only little predictive power for currency union dissolutions.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 1113

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: monetary union ; sovereign currency ; dissolution ; exit

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Nitsch, Volker
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2004

Weitere Informationen

• Handle: http://hdl.handle.net/10419/76467
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ