Customs unions, currency crises, and monetary policy coordination: The case of the Eurasian Economic Union
作者: Evgeny VinokurovMikhail DemidenkoDmitry KorshunovMihaly Kovacs
作者单位: 1Centre for Integration Studies, Eurasian Development Bank, St. Petersburg, Russia
2OGResearch, Budapest, Hungary
刊名: Russian Journal of Economics, 2017, Vol.3 (3), pp.280-295
来源数据库: Elsevier Journal
DOI: 10.1016/j.ruje.2017.09.004
关键词: Customs unionMonetary policyMacroeconomic policy coordinationEurasian Economic UnionMonetary union.
原始语种摘要: Abstract(#br)After achieving substantial progress in establishing a common customs territory and regulations, customs unions face potential disruptions due to a lack of monetary policy coordination. These disruptions might appear in the form of currency shocks and the ensuing trade conflicts. We approach this issue by looking at the case of the Eurasian Economic Union (EAEU). The volatility of national currencies in 2014–2015 resulted in sizable shifts in competitiveness, culminating in a currency crisis in some member states. This raises the questions of how to gradually achieve a more coordinated monetary policy, what monetary policy options are available, and what would be their relative impact on macroeconomic stability. Using a set of modeling tools and econometric models, we review...
全文获取路径: Elsevier  (合作)
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关键词翻译
关键词翻译
  • monetary 金融
  • currency 货币
  • policy 政策
  • crises 危机
  • coordination 配位
  • macroeconomic 宏观经济的
  • Union 联合牌手表
  • volatility 挥发性
  • options 保留购买权
  • union 联合