| 000 -LEADER |
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| fixed length control field |
01085pab a2200169 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
180718b2002 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Hesina, Alberto |
| 245 ## - TITLE STATEMENT |
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| Title |
Currency unions |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
|---|
| Date of publication, distribution, etc. |
2002 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
p.409-36. |
| 362 ## - DATES OF PUBLICATION AND/OR SEQUENTIAL DESIGNATION |
|---|
| Dates of publication and/or sequential designation |
May |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc. |
Common currencies affect trading costs and, thereby, the amounts of trade, output, and consumption. From the perspective of monetary policy, the adoption of another country's currency trades off the benefits of commitment to price stability (if a committed anchor is selected) against the loss of an independent stabilization policy. We show that the type of country that has more to gain from giving up its own currency is a small open economy heavily trading with one particular large partner, with a history of high inflation and with a business cycle highly correlated with that of the potential "anchor". We also characterize the features of the optimal number of currency unions. - Reproduced. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Currencies |
| 700 ## - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Barro, Robert J. |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Quarterly Journal of Economics |
| 909 ## - |
|---|
| -- |
52363 |
