Exit from a Monetary Union Through Euroization: Discipline Without Chaos

17 Pages Posted: 10 Mar 2012

See all articles by Russell Cooper

Russell Cooper

University of Texas at Austin - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: March 2012

Abstract

This paper studies the role of exit from a monetary union during a debt crisis. A monetary union, such as the European Monetary Union, needs to establish a procedure for exit as a tool to cope with debt default. The paper studies various forms of exit and argues that "Euroization" is both a credible and effective means of punishment for countries in default.

Suggested Citation

Cooper, Russell W., Exit from a Monetary Union Through Euroization: Discipline Without Chaos (March 2012). NBER Working Paper No. w17908. Available at SSRN: https://ssrn.com/abstract=2019405

Russell W. Cooper (Contact Author)

University of Texas at Austin - Department of Economics ( email )

Austin, TX 78712
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
23
Abstract Views
330
PlumX Metrics