LEADER 04808oam 22012014 450 001 9910969921203321 005 20250426110105.0 010 $a9786613820785 010 $a9781462304400 010 $a1462304400 010 $a9781452737027 010 $a1452737029 010 $a9781282392526 010 $a1282392522 010 $a9781452703367 010 $a1452703361 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(IMF)WPIEE2006151 035 $a(MiAaPQ)EBC3014535 035 $a(IMF)WPIEA2006151 035 $aWPIEA2006151 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 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (22 p.) 225 1 $aIMF Working Papers 300 $a"June 2006." 311 08$a9781451864113 311 08$a1451864116 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 $aCurrencies$2imf 606 $aCurrency$2imf 606 $aExchange rates$2imf 606 $aExports and Imports$2imf 606 $aFinancial Aspects of Economic Integration$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aGovernment and the Monetary System$2imf 606 $aInternational economics$2imf 606 $aInternational Trade Organizations$2imf 606 $aInternational trade$2imf 606 $aMonetary economics$2imf 606 $aMonetary Systems$2imf 606 $aMonetary unions$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aPayment Systems$2imf 606 $aPlurilateral trade$2imf 606 $aRegimes$2imf 606 $aReserve currencies$2imf 606 $aStandards$2imf 606 $aTrade Policy$2imf 607 $aUnited States$2imf 615 0$aMonetary policy 615 0$aForeign exchange rates 615 7$aCurrencies 615 7$aCurrency 615 7$aExchange rates 615 7$aExports and Imports 615 7$aFinancial Aspects of Economic Integration 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aGovernment and the Monetary System 615 7$aInternational economics 615 7$aInternational Trade Organizations 615 7$aInternational trade 615 7$aMonetary economics 615 7$aMonetary Systems 615 7$aMonetary unions 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aPayment Systems 615 7$aPlurilateral trade 615 7$aRegimes 615 7$aReserve currencies 615 7$aStandards 615 7$aTrade Policy 700 $aAnderson$b Harald$01815716 701 $aBeadle$b Sibel$01816504 801 0$bDcWaIMF 906 $aBOOK 912 $a9910969921203321 996 $aPrice Impacts of Non-Adoption of the Euro for Small European Countries$94372625 997 $aUNINA