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Toward a Monetary Union in the East African Community Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms

This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report d...

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Bibliographic Details
Main Author: Drummond, Paulo
Other Authors: Aisen, Ari, Alper, Emre, Fuli, Ejona
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2015
Series:Departmental Papers
Subjects:
Supply And Demand
Government And The Monetary System
Payment Systems
Exchange Rate Arrangements
Economic Theory
Economic Integration
Regimes
Monetary Economics
Financial Aspects Of Economic Integration
Supply Shocks
Currency
Exports And Imports
Economic Theory & Philosophy
International Economics
Money
Foreign Exchange
Standards
Currencies
Monetary Systems
Prices
Agriculture: Aggregate Supply And Demand Analysis
Exchange Rates
Monetary Unions
Money And Monetary Policy
Kenya
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies
Physical Description:58 pages
ISBN:9781513562179

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