LEADER 04589oam 22011054 450 001 9910788522303321 005 20230829002147.0 010 $a1-4623-0440-0 010 $a1-4527-3702-9 010 $a1-282-39252-2 010 $a9786613820785 010 $a1-4527-0336-1 035 $a(CKB)3360000000443117 035 $a(EBL)3014535 035 $a(SSID)ssj0000943019 035 $a(PQKBManifestationID)11505580 035 $a(PQKBTitleCode)TC0000943019 035 $a(PQKBWorkID)10974563 035 $a(PQKB)11757315 035 $a(OCoLC)694141240 035 $a(MiAaPQ)EBC3014535 035 $a(IMF)WPIEE2006151 035 $a(EXLCZ)993360000000443117 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aPrice Impacts of Non-Adoption of the Euro for Small European Countries /$fHarald Anderson, Sibel Beadle 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (22 p.) 225 1 $aIMF Working Papers 300 $a"June 2006." 311 $a1-4518-6411-6 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. OPTIMAL CURRENCY AREA LITERATURE BEFORE 1999""; ""III. ESTIMATION METHOD FOR SJAASTAD MODEL""; ""IV. DATA""; ""V. ESTIMATION RESULTS""; ""VI. EUROPEAN ECONOMIES BEFORE AND AFTER THE INTRODUCTION OF THE EURO, AND THE BAYOUMI- EICHENGREEN MODEL""; ""VII. CONCLUSIONS""; ""References"" 330 3 $aDebates surrounding the adoption of a common currency have focused on its benefits weighed against the long-term costs of losing monetary independence. These debates have assumed that the penalty for not adopting a common currency is the maintenance of the status quo. This paper uses the Sjaastad model to analyze the price-making power of major currencies with regard to the prices of traded goods in small countries that have not adopted the euro and uses the Bayoumi-Eichengreen OCA index methodology to shed further light on changes in Europe. The empirical evidence suggests that small countries that have not adopted the euro have increasingly seen a change in the determinants of their traded goods prices. This seems to contrast with the experience of small countries that adopted the euro. The results need to be interpreted carefully, given the short time series. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/151 606 $aMonetary policy$zEurope 606 $aForeign exchange rates$zEurope 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aFinancial Aspects of Economic Integration$2imf 606 $aTrade Policy$2imf 606 $aInternational Trade Organizations$2imf 606 $aMonetary economics$2imf 606 $aInternational economics$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aCurrencies$2imf 606 $aMonetary unions$2imf 606 $aExchange rates$2imf 606 $aPlurilateral trade$2imf 606 $aReserve currencies$2imf 606 $aMoney$2imf 606 $aInternational trade$2imf 607 $aUnited States$2imf 615 0$aMonetary policy 615 0$aForeign exchange rates 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMoney and Monetary Policy 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aFinancial Aspects of Economic Integration 615 7$aTrade Policy 615 7$aInternational Trade Organizations 615 7$aMonetary economics 615 7$aInternational economics 615 7$aCurrency 615 7$aForeign exchange 615 7$aCurrencies 615 7$aMonetary unions 615 7$aExchange rates 615 7$aPlurilateral trade 615 7$aReserve currencies 615 7$aMoney 615 7$aInternational trade 700 $aAnderson$b Harald$01462094 701 $aBeadle$b Sibel$01462095 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788522303321 996 $aPrice Impacts of Non-Adoption of the Euro for Small European Countries$93670945 997 $aUNINA