01595cas a2200241 a 4500 AALejournalIMF008007 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451930887 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 41 No. 4. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (176 pages) IMF Staff 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 The paper presents a model of optimum currency areas using a general equilibrium approach with regionally differentiated goods. The choice of a currency union depends upon the size of the underlying disturbances, the correlation between these disturbances, the costs of transactions across currencies, factor mobility across regions, and the interrelationships between demand for different goods. It is found that, while a currency union can raise the welfare of the regions within the union, it unambiguously lowers welfare for those outside the union. [JEL F33, F36]. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1994/004 Full text available on IMF http://elibrary.imf.org/view/journals/024/1994/004/024.1994.issue-004-en.xml IMF e-Library