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Trade Agreements, Exchange Rate Disagreements
- Source :
- Monetary Unions and Hard Pegs
- Publication Year :
- 2004
- Publisher :
- Oxford University PressOxford, 2004.
-
Abstract
- The negative effects on exports and FDI flows of an exchange rate misalignment are amplified when the misalignment is among countries that share a regional integration agreement. Such agreements strengthen the well-established relationship between real appreciation and currency crises. We conclude that coordination to achieve real-exchange-rate consistency within blocs is key to macro stability and, a fortiori, sustainable trade agreements.
- Subjects :
- Exchange rate
Economics
Monetary economics
Subjects
Details
- Database :
- OpenAIRE
- Journal :
- Monetary Unions and Hard Pegs
- Accession number :
- edsair.doi...........3c2e6409f575b0e5168db57f644ee130