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Monetary and Exchange Rate Arrangements for Nafta

This paper considers the extent to which the North American Free Trade Area (NAFTA) meets the criteria for a common currency area. NAFTA is compared with the EC, a regional grouping for which initial plans for a monetary union are already in place. Most of the anticipated benefits from a monetary un...

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Bibliographic Details
Main Author: Eichengreen, Barry
Other Authors: Bayoumi, Tamim
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1993
Series:IMF Working Papers
Subjects:
Supply And Demand
Government And The Monetary System
Economic Integration
Payment Systems
International Monetary Arrangements And Institutions
Economic Theory
Regimes
Financial Aspects Of Economic Integration
Supply Shocks
Currency
Exports And Imports
Economic Theory & Philosophy
International Economics
Foreign Exchange
Standards
International Economic Integration
Conventional Peg
Monetary Systems
Prices
Agriculture: Aggregate Supply And Demand Analysis
Exchange Rates
Monetary Unions
Canada
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper considers the extent to which the North American Free Trade Area (NAFTA) meets the criteria for a common currency area. NAFTA is compared with the EC, a regional grouping for which initial plans for a monetary union are already in place. Most of the anticipated benefits from a monetary union in the EC apply with equal force to NAFTA. However, because the underlying disturbances are more diverse across members of NAFTA, the costs of abandoning the exchange rate instrument are likely to be higher. This is particularly true when NAFTA is compared to the EC’s continental core
Physical Description:54 pages
ISBN:9781451843804

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