Global Implications of Self-Oriented National Monetary Rules
Maurice Obstfeld and Kenneth Rogoff.
Authors registered in the RePEc Author Service: Kenneth S Rogoff and
Maurice Obstfeld
No C01-120, Center for International and Development Economics Research (CIDER) Working Papers from University of California at Berkeley
Abstract:
Abstract : It is well known that if international linkages are relatively small, the potential gains to international monetary policy coordination are typically quite limited. But what if goods and financial markets are tightly linked? Is it then problematic if countries unilaterally design their institutions for monetary stabilization? Are the stabilization gains from having separate currencies largely squandered in the absence of effective international monetary coordination? We argue that sunder plausible assumptions the answer is no. Unless risk aversion is very high, lack of coordination in rule setting is a second-order problem compared to the overall gains from monetary policy stabilization.
Date: 2001-05-01
New Economics Papers: this item is included in nep-cba, nep-lam and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (34)
Downloads: (external link)
http://www.haas.berkeley.edu/groups/iber/wps/cider/c01-120.pdf main text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.haas.berkeley.edu/groups/iber/wps/cider/c01-120.pdf [301 Moved Permanently]--> http://haas.berkeley.edu/groups/iber/wps/cider/c01-120.pdf)
Related works:
Working Paper: Global Implications of Self-Oriented National Monetary Rules (2003) 
Journal Article: Global Implications of Self-Oriented National Monetary Rules (2002) 
Working Paper: Global Implications of Self-Oriented National Monetary Rules (2002) 
Working Paper: Global Implications of Self-Oriented National Monetary Rules (2001) 
Working Paper: Global Implications of Self-Oriented National Monetary Rules (2001) 
Working Paper: Global Implications of Self-Orientated National Monetary Rules (2001) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:ucb:calbcd:c01-120
Ordering information: This working paper can be ordered from
IBER, F502 Haas Building, University of California at Berkeley, Berkeley CA 94720-1922
Access Statistics for this paper
More papers in Center for International and Development Economics Research (CIDER) Working Papers from University of California at Berkeley University of California at Berkeley, Berkeley, CA USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum ().