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このアイテムの引用には次の識別子を使用してください: http://hdl.handle.net/10114/3633

タイトル: Welfare Analysis of Currency Union
著者: Iwamura, Hideyuki
キーワード: Currency Union
Optimum Currency Areas
発行日: 2009-3
出版者: The Institute of Comparative Economic Studies, Hosei University
抄録: This paper aims to focus on one of the non-exclusive benefits of a currency union and to analyze its welfare impacts on the regions inside and outside. Presenting a three-region model with optimizing consumers, the paper demonstrates that the non-exclusive benefits depend on the fixed costs of cross-currency transactions and the elasticity of input substitution. Elasticities close enough to one ensure the non-exclusive benefits to exceed non-exclusive costs. The implications are that the external effects of a currency union can cause the union to be too small in size, and that the elasticity is a critical criterion for optimum currency areas.
URI: http://hdl.handle.net/10114/3633
ISSN: 09111247
出現コレクション:Journal of International Economic Studies


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