01758cas a2200253 a 4500 AALejournalIMF001777 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451860016 1018-5941 BD-DhAAL BD-DhAAL Parsley, David. Limiting Currency Volatility to Stimulate Goods Market Integration : A Price-Based Approach / David Parsley, Shang-Jin Wei. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the integration of goods markets. Rather than using data on volume of trade, this paper employs a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83 cities around the world during 1990-2000. We find that the impact of an institutional stabilization-currency board or dollarization-promotes market integration far beyond an instrumental stabilization. Among them, long-term currency unions are more effective than more recent currency boards. All have room to improve relative to a U.S. benchmark. Mode of access: Internet Wei, Shang-Jin. IMF Working Papers; Working Paper ; No. 2001/197 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/197/001.2001.issue-197-en.xml IMF e-Library