Toward a monetary union in the East African community: asymmetric shocks, exchange rates, and risk-sharing mechanism
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DescriptionThis paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies.
International Monetary Fund (IMF)
31 July 2015
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