The Currency Reform as the Last Stage of Economic and Monetary Union: Some Policy Questions

Alberto Giovannini

No 591, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The paper discusses the policy problems involved in replacing several national currencies with a single currency in a monetary union. While these problems are of general interest, the analysis is motivated by the plan for Economic and Monetary Union among the members of the European Community. The issues discussed include the choice of conversion rates and the effects of exchange rate devaluations at the time of the monetary reform.

Keywords: Currency Reform; Exchange Rate Devaluation (search for similar items in EconPapers)
JEL-codes: E42 F33 F36 G15 G20 (search for similar items in EconPapers)
Date: 1991-10
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Citations: View citations in EconPapers (2)

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