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Loading... The Eastern Caribbean Currency Union : would a fiscal insurance mechanism mitigate national income shocks?by Anthony Lemus
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This paper studies the nature of the shocks affecting the Eastern Caribbean Currency Union (ECCU), and examines whether a hypothetical Eastern Caribbean fiscal insurance mechanism could insure member countries of the union against asymmetric national income shocks. The empirical results suggest that a one dollar reduction in an ECCU member country's per capita personal income could trigger, through reduced income taxes and increased transfers, flows equivalent to about 7 percent of the initial income shock. Each member of the currency union could benefit as well, although the extent of shock m No library descriptions found. |
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Google Books — Loading... GenresMelvil Decimal System (DDC)337.1729Social sciences Economics International economics Absolute free trade; No tariffLC ClassificationRatingAverage: No ratings.Is this you?Become a LibraryThing Author. |