Checking out: exits from currency unions

Andrew Rose

Journal of Financial Transformation, 2007, vol. 19, 121-128

Abstract: This paper studies the characteristics of departures from monetary unions. During the post-war period, almost seventy distinct countries or territories have left a currency union, while over sixty have remained continuously in currency unions. I compare countries leaving currency unions with those remaining within them, and find that leavers tend to be larger, richer, and more democratic; they also tend to have higher inflation. However, there are typically no sharp macroeconomic movements before, during, or after exits.

Keywords: Monetary unions; failures of monetary unions (search for similar items in EconPapers)
JEL-codes: F15 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:1404

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