Paper / RRA
An area where economic efficiency could be maximized, abbr. OCA
What is an Optimum Currency Area?
The OCI item that would cease to exist if we used a central currency
What is foreign currency translation gains/losses?
This EU country faced a severe sovereign debt crisis in the wake of the 2008 recession
What is Greece?
The currency used in 14 west-African countries, pegged to the Euro.
What is the CFA?
This is FASB’s international counterpart
What is IASB?
This the term for denomination in the same monetary unit.
What is single currency?
The ability to work anywhere within a designated zone.
What is Free Flow of Labour?
The predecessor to IASB.
What is the International Accounting Standards Council?
The economist behind Keynesian Economics
Who is John Maynard Keynes?
In the US $ adoption example in the paper, all countries had shown a 3-5 % increase in their international trade and saved $1-3 billion per annum in this.
What is transaction cost?
If member nations have different business cycles, then optimal monetary policy may diverge and union participants may be worse under this.
What is a joint central bank?
The term used for revenue generated by printing money.
What is seignorage?
The economic event of rapidly rising prices
What is inflation?
The name of the reports that aggregate financial information over all segments that the author believes would benefit most from a single currency
What are consolidated financial statements?
This South American country, which uses the US $
What is Ecuador?