The economics of Scottish independence in an interdependent world

Andrew Hughes Hallett, 20 June 2014

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URL: http://www.cepr.org/active/publications/policy_insights/viewpi.php?pino=73
Topics: Europe's nations and regions, Monetary policy
Tags: currency union, monetary independence, Scotland, Scottish independence

Scottish independence in an interdependent world: New evidence

Andrew Hughes Hallett, 20 June 2014

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Any economy must have a policy framework designed to manage the three basic macroeconomic imbalances:

Topics: Europe's nations and regions, Monetary policy
Tags: currency union, monetary independence, Scotland, Scottish independence

A well-designed sterling union will be needed if Scotland votes for independence

Oliver Harvey, George Saravelos, 28 May 2014

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The currency options of an independent Scotland have become a crucial point of contention for both sides ahead of the September 2014 referendum. However, the debate has so far focused on the suitability of different regimes based on the optimal currency area framework or fiscal implications (Armstrong 2013). There has been little focus on the practical issues involved.

Topics: Europe's nations and regions, Monetary policy
Tags: Bank of England, currency union, Currency unions, monetary independence, Scotland, Scottish independence, sterling

Assessing the emerging global financial architecture: Measuring the trilemma's configurations over time

Joshua Aizenman, Menzie D. Chinn , Hiro Ito, 9 January 2009

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Against the backdrop of the most severe financial crisis since the Great Depression, the issue of the trilemma – the hypothesis that a country may only achieve at most two of three goals: monetary independence, exchange rate stability, and financial integration – seems rather distant.

Topics: International finance, Macroeconomic policy
Tags: exchange rate stability, financial integration, monetary independence, Trilemma

Why have currency unions dissolved? A test of optimum currency area theory

Andrew K Rose, 6 February 2008

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The euro’s success has piqued the world’s interest in currency unions. The Gulf Cooperation Council is planning to establish one by 2010, the South African Development Community by 2018 and plans for an Asian currency union have circulated for years.

Topics: Global economy, Monetary policy
Tags: currency union, EMU, euro, membership, monetary independence

Reframing the debate about the Chinese Renminbi

Marvin Goodfriend, Eswar Prasad, 22 August 2007

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As the US trade deficit continues to swell, the denizens of Capitol Hill are back on the warpath against their favourite bogeyman—the Chinese economy. The rising US bilateral trade deficit with China provides ammunition (made in China!) for those who want to argue that Chinese trade policies are at the root of the problem.

Topics: Exchange rates
Tags: China, flexible exchange rate, monetary independence, renminbi, Renminbi appreciation

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