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Why Do Different Countries Use Different Currencies?
By:Narayana Rao Kocherlakota,Mr. Thomas Krueger
Published on 1998-02-01 by International Monetary Fund

During long periods of history, countries have pegged their currencies to an international standard (such as gold or the U.S. dollar), severely restricting their ability to create money and affect output, prices, or government revenue. Nevertheless, countries generally have maintained their own currencies. The paper presents a model where agents have heterogeneous preferences—that are private information—over goods of different national origin. In this environment, it may be optimal for countries to have different currencies; we also identify conditions where separate national currencies do not expand the set of optimal allocations. Implications for a currency union in Europe are discussed.

This Book was ranked at 11 by Google Books for keyword Currency.

Book ID of Why Do Different Countries Use Different Currencies?'s Books is 4JkgjGoPU7AC, Book which was written byNarayana Rao Kocherlakota,Mr. Thomas Kruegerhave ETAG "wQrVkC5eii0"

Book which was published by International Monetary Fund since 1998-02-01 have ISBNs, ISBN 13 Code is 9781451891386 and ISBN 10 Code is 1451891385

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Book which have "22 Pages" is Printed at BOOK under CategoryBusiness and Economics

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