MARC details
| 000 -LEADER |
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| fixed length control field |
02237nam a22002537a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER |
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| control field |
ZW-GwMSU |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
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| control field |
20240318081024.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
240318b |||||||| |||| 00| 0 eng d |
| 040 ## - CATALOGING SOURCE |
|---|
| Original cataloging agency |
MSU |
| Language of cataloging |
English |
| Transcribing agency |
MSU |
| Description conventions |
rda |
| 050 ## - LIBRARY OF CONGRESS CALL NUMBER |
|---|
| Classification number |
HC800 JOU |
| 100 1# - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Debrun, Xavier |
| Relator term |
author |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
Should African monetary unions be expanded?: |
| Remainder of title |
An empirical investigation of the scope for monetary integration in Sub-Saharan Africa |
| Statement of responsibility, etc. |
by Xavier Debrun, Paul R. Masson and Catherine Pattillo |
| 264 ## - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE |
|---|
| Place of production, publication, distribution, manufacture |
Oxford : |
| Name of producer, publisher, distributor, manufacturer |
Oxford University Press, |
| Date of production, publication, distribution, manufacture, or copyright notice |
2011 |
| 336 ## - CONTENT TYPE |
|---|
| Source |
rdacontent |
| Content type term |
text |
| Content type code |
txt |
| 337 ## - MEDIA TYPE |
|---|
| Source |
rdamedia |
| Media type term |
unmediated |
| Media type code |
n |
| 338 ## - CARRIER TYPE |
|---|
| Source |
rdacarrier |
| Carrier type term |
volume |
| Carrier type code |
nc |
| 440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE |
|---|
| Volume/sequential designation |
Volume 20, number 2 |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
This paper develops a cost–benefit analysis of monetary integration and applies it to the currency unions being actively pursued in Africa. While many related studies have highlighted the problems associated with shock asymmetries, very few analyses have attempted to weigh these against potential benefits. In our model, the benefits of monetary union come from a more credible monetary policy and a correspondingly lower inflationary bias, while the costs derive from both output shock asymmetries (which are identified with different terms of trade movements) and fiscal disparities. Using African data, we estimate key equilibrium relationships of the model. These capture quite well the cross-country variation in inflation and fiscal revenues, allowing us to calibrate the full model. The model simulations indicate that the proposed East African Community, Economic Community of West African States and Southern Africa Development Community monetary unions bring about net benefits to some potential members, but that many other prospective members record relatively modest net gains and sometimes net losses. The paper also discusses how strengthening domestic monetary and fiscal institutions is an alternative that can provide some of the same benefits of monetary unions and therefore reduce their relative attractiveness. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Monetary Integration |
| Geographic subdivision |
Sub-sahara Africa |
| 700 1# - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Masson, Paul R. |
| Relator term |
co-author |
| 700 1# - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Pattillo, Catherine |
| Relator term |
co-author |
| 856 ## - ELECTRONIC LOCATION AND ACCESS |
|---|
| Uniform Resource Identifier |
10.1093/jae/ejr005 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Source of classification or shelving scheme |
Library of Congress Classification |
| Koha item type |
Journal Article |