Preferences, domains, and sustainability
Article Abstract:
A monetary union is different from a currency area because it only has one central bank, one currency and one monetary policy. Monetary union members have no national currencies and cannot alter their exchange rates unless they resign from the union. On the other hand, each member of a currency area has its own money and central bank. It has the right to change its exchange rate, unilaterally change its rates, or adopt its own monetary policy. However, a member cannot do the latter without endangering its exchange-rate pegs.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1997
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The remonetization of the Commonwealth of Independent States
Article Abstract:
The ruble is expected to become demonetized as a result of the collapse of the Soviet Union, and remonetization of the Commonwealth of Independent States must occur before policymakers can consider privatization, marketization and competitiveness. The International Monetary Fund probably will assume responsibility for the remonetization, and the US may guarantee the new ruble by establishing a one-to-one exchange rate between the new currency and the dollar. The new ruble will establish the monetary base in the CIS.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1992
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Macroeconomic issues of Soviet reform
Article Abstract:
The economic system of the collapsed Soviet Union influences economic reform in the former Soviet republics. The republics are facing problems related to economic growth and macroeconomic disequilibrium. This disequilibrium is reflected in the balance of payments, inflation and the budget deficit. These problems call for a five-point strategy that involves stabilization at the macroeconomic level, price liberalization, privatization, current account convertibility and policies to protect the public.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1992
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