Checking Out: Exits from Currency Unions

19 Pages Posted: 21 May 2008

See all articles by Andrew Kenan Rose

Andrew Kenan Rose

University of California - Haas School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); NUS Business School

Date Written: April 2007

Abstract

This paper studies the characteristics of departures from monetary unions. During the post-war period, almost seventy distinct countries or territories have left a currency union, while over sixty have remained continuously in currency unions. I compare countries leaving currency unions to those remaining within them, and find that leavers tend to be larger, richer, and more democratic; they also tend to have higher inflation. However, there are typically no sharp macroeconomic movements before, during, or after exits.

Keywords: country, data, empirical, monetary, panel, probit, statistic

JEL Classification: E42, E58

Suggested Citation

Rose, Andrew Kenan, Checking Out: Exits from Currency Unions (April 2007). , Vol. , pp. -, 2007. Available at SSRN: https://ssrn.com/abstract=1135492

Andrew Kenan Rose (Contact Author)

University of California - Haas School of Business ( email )

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HOME PAGE: http://faculty.haas.berkeley.edu/arose

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Centre for Economic Policy Research (CEPR)

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