Toward a Monetary Union in the East African Community: Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms
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Summary:
This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies.
Series:
Departmental Paper No. 2015/008
Subject:
Currencies Economic integration Economic theory Exchange rate arrangements Exchange rates Foreign exchange Monetary unions Money Supply shocks
English
Publication Date:
July 20, 2015
ISBN/ISSN:
9781513562179/2616-5333
Stock No:
TMUEACEA
Pages:
58
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