Jump to ContentJump to Main Navigation
Monetary Unions and Hard PegsEffects on Trade, Financial Development, and Stability$
Users without a subscription are not able to see the full content.

Volbert Alexander, George M. von Furstenberg, and Jacques Mélitz

Print publication date: 2004

Print ISBN-13: 9780199271405

Published to Oxford Scholarship Online: August 2004

DOI: 10.1093/0199271402.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 12 June 2021

Trade Agreements, Exchange Rate Disagreements

Trade Agreements, Exchange Rate Disagreements

(p.135) 9 Trade Agreements, Exchange Rate Disagreements
Monetary Unions and Hard Pegs

Eduardo Fernández-Arias

Ugo Panizza

Ernesto Stein

Oxford University Press

The negative effects on exports and FDI flows of an exchange rate misalignment are amplified when the misalignment is among countries that share a regional integration agreement. Such agreements strengthen the well-established relationship between real appreciation and currency crises. We conclude that coordination to achieve real-exchange-rate consistency within blocs is key to macro stability and, a fortiori, sustainable trade agreements.

Keywords:   currency crises, exchange-rate agreements, exchange-rate and trade regimes, international compatibility, protectionism, trade agreements

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .