Establishing Conversion Values for New Currency Unions.

A key issue in creating a new currency union is setting the rates to convert national currencies into the new union currency. Planned unions in the Gulf region and Africa are seeking methods to set the conversion rates when their new currencies are created. We propose a forward-looking econometric m...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Kamar, Bassem
Otros Autores: Carlotti, Jean-Etienne, Krueger, Russell C.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Monetary unions > Persian Gulf States.
Currency question > Persian Gulf States.
Monetary policy > Persian Gulf States.
Foreign exchange rates > Persian Gulf States.
Dollar, American.
Unions monétaires > États du golfe Persique.
Politique monétaire > États du golfe Persique.
Taux de change > États du golfe Persique.
Dollar américain.
Currency question
Dollar, American
Foreign exchange rates
Monetary policy
Monetary unions
Persian Gulf States
Acceso en línea:Texto completo
Descripción
Sumario:A key issue in creating a new currency union is setting the rates to convert national currencies into the new union currency. Planned unions in the Gulf region and Africa are seeking methods to set the conversion rates when their new currencies are created. We propose a forward-looking econometric methodology to determine conversion rates by calculating the degree of misalignment in the real exchange rate, and apply it to the GCC currency union. For each GCC currency, we identify the year at which the economy is the closest to its internal and external equilibrium, and then estimate the degree.
Descripción Física:1 online resource (60 pages)
ISBN:9781451917567
1451917562

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