Download PDF (320.2

- 32 -

References

Barro, Robert, and David Gordon, "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy. Vol. 91, No. 4 (1983), pp. 589-610.

Bayoumi, Tamim (1992a), "The Effect of the ERM on Participating Economies" (Washington) International Monetary Fund, Staff Papers. Vol. 39, No. 2 (1992), pp. 330-356.

(1992b), "Fiscal Policy and EMU," in C.A.E. Goodhardt (ed.) EMU and ESCB After Maastrict. Financial Markets Group (London School of Economics, 1992).

, and Barry Eichengreen, "Economic Performance Under Alternative Exchange Rate Regimes: Some Historical Evidence," paper given at a Banco d'ltalia conference, Perugia (July 9-10, 1992).

, and Barry Eichengreen (1993a), "Shocking Aspects of European Monetary Unification," in Francesco Giavazzi and Francisco Torres (eds.), The Transition to Economic and Monetary Union in Europe. Cambridge: Cambridge University Press (forthcoming, 1993).

and Barry Eichengreen (1993b), "Is There a Conflict Between EC Enlargement and European Monetary Unification?," Greek Economic Review (forthcoming, 1993).

, and Paul Masson, "Fiscal Flows in the United States and Canada: Lessons for Monetary Union in Europe," unpublished manuscript (Washington: International Monetary Fund, 1992) .

Blanchard, Olivier, and Lawrence Katz, "Regional Evolutions," Brookings Papers on Economic Activity. 1992:1, pp. 1-75.

, and Danny Quah, "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, Vol. 79 (1989), pp. 655-673.

Cohen, Daniel, and Charles Wyplosz, "The European Monetary Union: An Agnostic Evaluation," in Ralph Bryant, David Currie, Jacob Frenkel, Paul Masson, and Richard Portes (eds.), Macroeconomic Policies in an Interdependent World (International Monetary Fund: Washington, 1989).

Cooper, Richard, "What Future for the International Monetary System?" in Yoshio Suzuki, Junichi Miyake and Mitsuaki Okabe (eds.), The Evolution of the International Monetary System (Tokyo: University of Tokyo Press, 1989), pp. 277-300.

©International Monetary Fund. Not for Redistribution - 33 -

Cox, David, and Richard Harris, "North American Free Trade and its Implications for Canada: Results from a CGE Model of North American Trade," Addendum to the Preliminary Report on Investigation No. 332-317 Under Section 332 of the Tariff Act of 1930 (Washington: U.S. Trade Commission, 1992).

Cukierman, Alex, Central Bank Strategy. Credibility and Independence: Theory and Evidence. Cambridge, Mass.: MIT Press (forthcoming, 1993).

De Grauwe, Paul, and Daniel Gros, "Convergence and Divergence in the Community's Economy on the Eve of Economic and Monetary Union," in Peter Ludlow (ed.), Setting European Community Priorities. 1992-92 (London: Brassey's, 1991), pp. 9-37.

Diaz, Francisco Gil, and Raul Ramos Tercero, "Lessons from Mexico," in Michael Bruno, et al. (eds.), Inflation Stabilization: The Experience of Israel. Argentina. Brazil. Bolivia and Mexico (Cambridge, Mass.: MIT Press, 1988), pp. 361-390.

Dornbusch, Rudiger, "Mexico: Stabilization, Debt and Growth," Economic Policy. Vol. 7 (1988), pp. 231-285.

Eichengreen, Barry, "One Money for Europe? Lessons from the U.S. Currency Union," Economic Policy. Vol. 10 (1990), pp. 117-187.

, "The Economics of EMU," unpublished manuscript, University of California at Berkeley (1992).

European Commission, "One Market, One Money," Special Issue of European Economy. Vol. 44 (Brussels: European Commission, 1990).

Frankel, Jeffrey A., "Is a Yen Bloc Forming in Pacific Asia?" Finance and the International Economy. Vol. 5 (1992), pp. 5-20.

Froot, Kenneth, and Kenneth Rogoff, "The EMS, the EMU, and the Transition to a Common Currency," NBER Macroeconomics Annual (1991), pp. 269-317.

Gagnon, Joseph, "Exchange Rate Variability and the Level of International Trade," Journal of International Economics, (forthcoming, 1993).

Giavazzi, Francesco, and Marco Pagano, "The Advantages of Tying One's Hands," European Economic Review. Vol. 32 (1988), pp. 1055-74.

Goldstein, Morris, and Geoffrey Woglom, "Market-Based Fiscal Discipline in Monetary Unions: Evidence from the U.S. Municipal Bond Market," unpublished manuscript, International Monetary Fund (1991).

Harris, Richard G., "Exchange Rates and International Competitiveness of the Canadian Economy," A Study Prepared for the Economic Council of Canada, processed, Simon Fraser University (1991).

©International Monetary Fund. Not for Redistribution - 34 -

Horn, Henrik, and Torsten Persson, "Exchange Rate Policy, Wage Formation and Credibility," European Economic Review. Vol. 32 (1988), pp. 1621-37.

Hufbauer, Gary Clyde, and Jeffrey Schott, North American Free Trade: Issues and Recommendations (Washington: Institute for International Economics, 1992).

International Monetary Fund, "Exchange Rate Volatility and World Trade," Occasional Paper No. 28 (Washington, 1984).

Italianer, Alexander, and Marc Vanheukelen, "Proposals for Community Stabilization Mechanisms: Some Historical Applications," European Economy (forthcoming, 1993).

Kendal, Μ., and A. Stuart, The Advanced Theory of Statistics (New York: Mayflower, 1967).

Kenen, Peter B., "The Theory of Optimum Currency Areas: An Eclectic View," in Robert Mundell and Alexander Swoboda (eds.), Monetary Problems in the International Economy (Chicago: University of Chicago Press, 1969), pp. 41-60.

, "Exchange Rate Variability: Measurement and Implications," unpublished manuscript (Princeton University, 1979).

Krugman, Paul, "Integration, Specialization and Regional Growth: Notes on 1992, EMU and Stabilization," in Francesco Giavazzi and Francisco Torres (eds), The Transition to Economic and Monetary Union in Europe. Cambridge: Cambridge University Press (forthcoming, 1993).

, and Gordon Hanson, "Mexico-U.S. Free Trade and the Location of Production," unpublished manuscript, MIT (1991).

Kydland, Finn, and Edward Prescott, "Rules Rather than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy. Vol. 85 (1977), pp. 473-491.

Laidler, David, "One Market, One Money? Well, Maybe...Sometimes..." in Federal Reserve Bank of Kansas City, Policy Implications of Trade and Currency Zones (Kansas City: Federal Reserve Bank of Kansas City, 1992), pp. 84-93.

Masson, Paul, and Mark Taylor, "Common Currency Areas and Currency Unions: An Analysis of the Issues," in Paul Masson and Mark Taylor (eds.), Policy Issues in the Operation of Currency Unions. Cambridge: Cambridge University Press (forthcoming, 1993).

McKinnon, Ronald, "Optimum Currency Areas," American Economic Review. Vol. 53 (1963), pp. 717-725.

McLeod, Darryl, and John H. Welch (1991a), "Free Trade and the Peso," unpublished manuscript (Fordham University and Federal Reserve Bank of Dallas, 1991).

McLeod, Darryl, and John H. Welch (1991b), "The Case for a Peso Target Zone," Business Mexico. Vol. 1 (November 1991), pp. 19-22.

Morsink, R., and W. Molle, "Direct Investment and Monetary Integration," The European Economy. Special Issue No. 1 (1991), pp. 36-55.

Mundell Robert, "A Theory of Optimum Currency Areas," American Economic Review. Vol. 51 (1961), pp. 657-65.

Ortiz, Guillermo, "Mexico Beyond the Debt Crisis: Toward Sustainable Growth with Price Stability," in Michael Bruno, et al. (eds.), Lessons of Economic Stabilization and its Aftermath (Cambridge, Mass.: MIT Press, 1991), pp. 283-313.

Rogoff, Kenneth, "NAChos and ECUs: On the Relative Merits of a North American Currency Union versus a European Monetary Union," unpublished manuscript, University of California at Berkeley (1991).

Sachs, Jeffrey and Xavier Sala-i-Martin, "Federal Fiscal Policy and Optimum Currency Areas," in Matthew Canzoneri, Vittorio Grilli and Paul Masson (eds.), Establishing a Central Bank For Europe. Cambridge: Cambridge University Press (1992).

Schott, Jeffrey J., and Murray G. Smith, The Canada-United States Free Trade Agreement: The Global Impact (Washington: Institute for International Economics, 1988).

Sims, Christopher, "Macroeconomics and Reality," Econometrica. Vol. 48 (1980), pp. 1-48.

Sterne, Gabriel, and Tamim Bayoumi, "Temporary Cycles or Volatile Trends? Economic Fluctuations in 21 OECD Economies," unpublished manuscript, Bank of England (1992).

Straubhaar, Thomas, and Klaus F. Zimmermann, "Towards a European Migration Policy," CEPR Discussion Paper No. 641 (1992).

Thompson, Aileen J., "The Anticipated Sectoral Impact of the Canada-United States Free Trade Agreement," unpublished manuscript (University of Toronto, 1991).

Renshaw, Vernon, E.A. Troff, Jr., and Howard L. Friedenberg, "Gross State Product by Industry, 1963-86," Survey of Current Business. Vol. 68 (May 1988), pp. 30-46.

©International Monetary Fund. Not for Redistribution - 36 - von Hagen, Jürgen, "Fiscal Arrangements in a Monetary Union: Evidence from the U.S.," in Donald E. Fair and Christian de Boisseau (eds.) Fiscal Policy. Transaction and the Financial System in an Increasingly Integrated Europe (Dorbecht, The Netherlands: Khuwer Academic Publishers, 1992).

Weber, A., "EMU and Asymmetries and Adjustment Problems in the EMS: Some Empirical Evidence," CEPR Discussion Paper No. 448 (1990).