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An Theoretical and Empirical Research on Economic and International Impact of the Euro

Research Project

Project/Area Number 11630097
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Public finance/Monetary economics
Research InstitutionKobe University

Principal Investigator

FUJITA Seiichi  Graduate School of Economics, Kobe University, Professor, 経済学研究科, 教授 (40135778)

Co-Investigator(Kenkyū-buntansha) TAKAHAMA Mitsunobu  Faculty of Commerce, Meiji Univ., Associate Professor, 商学部, 助教授 (70287879)
Project Period (FY) 1999 – 2001
Project Status Completed (Fiscal Year 2001)
Budget Amount *help
¥2,700,000 (Direct Cost: ¥2,700,000)
Fiscal Year 2001: ¥500,000 (Direct Cost: ¥500,000)
Fiscal Year 2000: ¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 1999: ¥1,100,000 (Direct Cost: ¥1,100,000)
KeywordsEuro / International Currency / Foreign Exchange Rate Policy / Optimum Currency Area / Asymmetric Real Shock / Regional Division of Labor / Dollar Standard / 複数基軸通貨体制 / ユーロ圏 / 最適通過圏 / 域内貿易依存度 / 為替相場対策 / 為替市場介入 / ビナインネグレクト政策 / 欧州中央銀行 / EMU / 基軸通貨 / 通貨投機 / 自己実現性 / 欧州通貨危機
Research Abstract

Fujita made researches on the international impact of the introduction of the Euro.
(1) The Euro can't become a dominant international currency as the DM at the first stage, because roles of the DM as an international currency was based mainly on the diversity of currencies in the trade or capital transactions within the EMS countries and such diversity disappear when the Euro is introduced.
(2) At the second stage the Euro will be used as an international currency mostly in the EU accession countries and some African countries, through such roles as denomination currency, standard currency, intervention currency, reserve currency.
(3) The bipolar system of Dollar Area and Euro Area has two different impacts on the international monetary system. The first possibility is the instability of Dollar-Euro exchange rate through huge amount of portfolio shift among the Dollar and the Euro. The second possibility is the stability of the international monetary system through the regulation on the US current account deficits.
Takahama made researches on the impact of the Euro on Euro zone economies through re-examinations of Optimum Currency Area.
(1) The main economic effect of the monetary union is the control of inflation in the case of higher-inflation countries, but for low-inflation countries such as Germany economic effects of the monetary union may be small. Convergentョ of rate of inflation is not the condition but the outcome of the monetary union.
(2) After the introduction of the Euro, the economic loss of individual countries depend on the divergence of industrial structure of the particular countries. If the trade integration within the Euro zone promotes the divergence of industries among participating countries, the economic loss will increase.

Report

(4 results)
  • 2001 Annual Research Report   Final Research Report Summary
  • 2000 Annual Research Report
  • 1999 Annual Research Report
  • Research Products

    (28 results)

All Other

All Publications (28 results)

  • [Publications] 藤田誠一: "欧州単一通貨ユーロと国際通貨体制"経済学研究(九州大学). 66巻4号. 65-79 (2000)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 藤田誠一: "EMSからEMUへ:国際通貨体制へのインプリケーション"社会科学(同志社大学人文科学研究所. 65号. 93-115 (2000)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 藤田誠一: "ユーロの国際通貨制度上の意義"国際金融. 1073号. 48-54 (2001)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 高浜光信: "通貨投機の自己実現性について:第1世代モデルにおける複数均衡"明大商学論叢. 82巻1号. 241-252 (2000)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 高浜光信: "通貨同盟への参加と純利得の発生:最適通貨圏理論の再検討"明治大学社会科学研究所紀要. 38巻2号. 143-157 (2000)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 高浜光信: "通貨同盟のコストベネフィット分析:最適通貨圏理論と信認輸入仮説の融合"明治大学社会科学研究所 ディスカッションペーパー. J2002-2. 1-18 (2002)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 田中素香, 藤田誠一: "ユーロと国際通貨体制"日本経済評論社(未定). (2002)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Seiichi Fujita: "The international Aspects of the Euro"Kokumin keizai zasshi. Vol. 181 No. 1. 19-32 (2000)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Seiichi Fujita: "The Euro and the International Monetary System"Keizaigaku kenkyuu (Kyushu University). Vol. 66 No. 4. 65-79 (2000)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Seiichi Fujita: "From the EMS to the EMU"Shakaikagaku (Doshisha University). No. 65. 93-115 (2001)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Seiichi Fujita: "Some Controversial Issues on International Currencies"Konan keizaigaku ronshu (Konan University). Vol. 42 No. 1. 1-31 (2001)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Seiichi Fujita: "Impacts of the Euro on International Monetary System"International Finance. No. 1073. 48-54 (2001)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Mitsunobu Takahama: "On the Self-Fullfilling Nature of Currency Crisis"Meijishogakuronshu (Meiji University). Vol. 82 No. 1. 241-53 (2000)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Mitsunobu Takahama: "The Merit of Monetary Union"Shakai kagaku kenkyushokiyou (Meiji University). Vol. 38 No. 2. 143-57 (2000)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] Mitsunobu Takahama: "Cost-Benefit Analysis of Monetary Union"Discussion Paper, Meiji University. J2002-2. 1-18 (2002)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2001 Final Research Report Summary
  • [Publications] 藤田誠一: "国際通貨論の課題"甲南経済学論集. 42巻1号. 1-31 (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 藤田誠一: "ユーロの国際通貨制度上の意義"国際金融. 1073号. 48-54 (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 高浜光信: "通貨同盟のコストベネフィット分析:最適通貨圏理論と信認輸入仮説の融合"明治大学社会科学研究所ディスカッションペーパーシリーズ. J2002-2. 1-18 (2002)

    • Related Report
      2001 Annual Research Report
  • [Publications] 田中素香, 藤田誠一編著: "ユーロと国際通貨体制"日本経済評論社(近刊). (2002)

    • Related Report
      2001 Annual Research Report
  • [Publications] 藤田誠一: "欧州単一通貨ユーロと国際通貨体制:一つの試論"経済学研究(九州大学). 66巻4号. 65-79 (2000)

    • Related Report
      2000 Annual Research Report
  • [Publications] 藤田誠一: "EMSからEMUへ:国際通貨体制へのインプリケーション"社会科学(同志社大学人文科学研究所). 65号. 93-115 (2000)

    • Related Report
      2000 Annual Research Report
  • [Publications] 高浜光信: "通貨同盟への参加と純利益の発生:最適通貨圏理論の再検討"明治大学社会科学研究所紀要. 38巻2号. 143-57 (2000)

    • Related Report
      2000 Annual Research Report
  • [Publications] 高浜光信: "共通通貨のコストベネフィット分析"Meiji University Discussion Paper. 16 (2001)

    • Related Report
      2000 Annual Research Report
  • [Publications] 高浜光信(共訳): "デ・グラウウェ『国際通貨:外国為替レートと為替相場制度の理論と実証』"東洋経済新報社(近刊). (2001)

    • Related Report
      2000 Annual Research Report
  • [Publications] 藤田誠一: "欧州単一通貨ユーロとその対外的側面"国民経済雑誌. 181巻1号. 19-32 (2000)

    • Related Report
      1999 Annual Research Report
  • [Publications] 藤田誠一: "欧州単一通貨ユーロと国際通貨体制:一つの試論"経済学研究(九州大学:徳永正二郎教授記念号). (未定). (2000)

    • Related Report
      1999 Annual Research Report
  • [Publications] 高浜光信: "通貨投機の自己実現性について:第1世代モデルにおける複数均衡"明治大学論叢. 82巻1号(未定). (2000)

    • Related Report
      1999 Annual Research Report
  • [Publications] 藤田誠一(共編著): "現代国際金融論"有斐閣. 389 (2000)

    • Related Report
      1999 Annual Research Report

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Published: 1999-04-01   Modified: 2016-04-21  

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