Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market

Detalhes bibliográficos
Autor(a) principal: Cruz, Samuel Levi Alves
Data de Publicação: 2024
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Biblioteca Digital de Teses e Dissertações da USP
Texto Completo: https://www.teses.usp.br/teses/disponiveis/96/96131/tde-28062024-135805/
Resumo: This research examines the formation of common currency areas and understand the effects on member countries. A theoretical approach to the problem is proposed by analyzing these effects in a monetary model with trade frictions and also frictions in the foreign exchange market. The analysis is carried out by comparing the formation of a monetary union between two countries, using the developed model as a basis. We determine the conditions under which a single currency economy yields greater trade efficiency compared to the case of multiple currencies. Additionally, it finds that, under identical monetary policies, the welfare in an economy with a single currency consistently surpasses that of an economy with multiple currencies. The result of this research can be useful for decision-making in economic policies and for the development of future currency unions.
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spelling Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange marketEfeitos de bem-estar da integração monetária: uma análise para economias com fricções no mercado de câmbioExchange marketFricçõesFrictionsMercado de câmbioMoedaMonetary unionMoneyUnião monetáriaThis research examines the formation of common currency areas and understand the effects on member countries. A theoretical approach to the problem is proposed by analyzing these effects in a monetary model with trade frictions and also frictions in the foreign exchange market. The analysis is carried out by comparing the formation of a monetary union between two countries, using the developed model as a basis. We determine the conditions under which a single currency economy yields greater trade efficiency compared to the case of multiple currencies. Additionally, it finds that, under identical monetary policies, the welfare in an economy with a single currency consistently surpasses that of an economy with multiple currencies. The result of this research can be useful for decision-making in economic policies and for the development of future currency unions.Esta pesquisa examina a formação de áreas de moeda comum e busca compreender os efeitos sobre os países membros. Uma abordagem teórica para o problema é proposta, analisando esses efeitos em um modelo monetário com fricções de troca e também fricções no mercado de câmbio estrangeiro. A análise é realizada comparando a formação de uma união monetária entre dois países, utilizando o modelo desenvolvido como base. Determinamos as condições sob as quais uma economia de moeda única gera uma eficiência comercial maior em comparação com o caso de múltiplas moedas. Além disso, descobrimos que, sob políticas monetárias idênticas, o bem-estar em uma economia com uma única moeda supera consistentemente o de uma economia com múltiplas moedas. O resultado desta pesquisa pode ser útil para a tomada de decisões em políticas econômicas e para o desenvolvimento de futuras uniões monetárias.Biblioteca Digitais de Teses e Dissertações da USPJúnior, Fernando Antônio de BarrosCruz, Samuel Levi Alves2024-04-26info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttps://www.teses.usp.br/teses/disponiveis/96/96131/tde-28062024-135805/reponame:Biblioteca Digital de Teses e Dissertações da USPinstname:Universidade de São Paulo (USP)instacron:USPLiberar o conteúdo para acesso público.info:eu-repo/semantics/openAccesseng2024-07-18T13:50:03Zoai:teses.usp.br:tde-28062024-135805Biblioteca Digital de Teses e Dissertaçõeshttp://www.teses.usp.br/PUBhttp://www.teses.usp.br/cgi-bin/mtd2br.plvirginia@if.usp.br|| atendimento@aguia.usp.br||virginia@if.usp.bropendoar:27212024-07-18T13:50:03Biblioteca Digital de Teses e Dissertações da USP - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
Efeitos de bem-estar da integração monetária: uma análise para economias com fricções no mercado de câmbio
title Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
spellingShingle Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
Cruz, Samuel Levi Alves
Exchange market
Fricções
Frictions
Mercado de câmbio
Moeda
Monetary union
Money
União monetária
title_short Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
title_full Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
title_fullStr Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
title_full_unstemmed Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
title_sort Welfare effects of monetary integration: an analysis for economies with frictions on the foreign exchange market
author Cruz, Samuel Levi Alves
author_facet Cruz, Samuel Levi Alves
author_role author
dc.contributor.none.fl_str_mv Júnior, Fernando Antônio de Barros
dc.contributor.author.fl_str_mv Cruz, Samuel Levi Alves
dc.subject.por.fl_str_mv Exchange market
Fricções
Frictions
Mercado de câmbio
Moeda
Monetary union
Money
União monetária
topic Exchange market
Fricções
Frictions
Mercado de câmbio
Moeda
Monetary union
Money
União monetária
description This research examines the formation of common currency areas and understand the effects on member countries. A theoretical approach to the problem is proposed by analyzing these effects in a monetary model with trade frictions and also frictions in the foreign exchange market. The analysis is carried out by comparing the formation of a monetary union between two countries, using the developed model as a basis. We determine the conditions under which a single currency economy yields greater trade efficiency compared to the case of multiple currencies. Additionally, it finds that, under identical monetary policies, the welfare in an economy with a single currency consistently surpasses that of an economy with multiple currencies. The result of this research can be useful for decision-making in economic policies and for the development of future currency unions.
publishDate 2024
dc.date.none.fl_str_mv 2024-04-26
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.teses.usp.br/teses/disponiveis/96/96131/tde-28062024-135805/
url https://www.teses.usp.br/teses/disponiveis/96/96131/tde-28062024-135805/
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv
dc.rights.driver.fl_str_mv Liberar o conteúdo para acesso público.
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Liberar o conteúdo para acesso público.
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.coverage.none.fl_str_mv
dc.publisher.none.fl_str_mv Biblioteca Digitais de Teses e Dissertações da USP
publisher.none.fl_str_mv Biblioteca Digitais de Teses e Dissertações da USP
dc.source.none.fl_str_mv
reponame:Biblioteca Digital de Teses e Dissertações da USP
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Biblioteca Digital de Teses e Dissertações da USP
collection Biblioteca Digital de Teses e Dissertações da USP
repository.name.fl_str_mv Biblioteca Digital de Teses e Dissertações da USP - Universidade de São Paulo (USP)
repository.mail.fl_str_mv virginia@if.usp.br|| atendimento@aguia.usp.br||virginia@if.usp.br
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