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- W2220977211 abstract "In connection with regional economic integration (e.g., free trade zones, common markets), it is argued that biases in the negotiation process by which these arrangements come into being typically reduces the benefits of trade creation and increases the costs associated with trade diveresion. Regional monetary integration, such as is being realized in the Euro zone, also faces some difficulties. Due to the fact that the major currencies (the U.S, dollar, the euro and the yen) are floating and the exchange rates among those currencies have exhibited a great deal of volatility, small counties engaging in monetary integration may well find themselves experiencing quite different rates of inflation and hence even a common currency would not result in equality of real interest rates in the countries involved." @default.
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- W2220977211 date "2001-09-01" @default.
- W2220977211 modified "2023-09-26" @default.
- W2220977211 title "Some Pitfalls of Regionalization" @default.
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