| Description |
1 online resource (23 pages) |
| Series |
1\ IMF Working Papers; Working Paper ; No. 12/17, 1018-5941 |
|
IMF Working Papers; Working Paper ; No. 12/17
|
| Summary |
This paper studies the nature of the shocks affecting the Eastern Caribbean Currency Union (ECCU), and examines whether a hypothetical Eastern Caribbean fiscal insurance mechanism could insure member countries of the union against asymmetric national income shocks. The empirical results suggest that a one dollar reduction in an ECCU member country's per capita personal income could trigger, through reduced income taxes and increased transfers, flows equivalent to about 7 percent of the initial income shock. Each member of the currency union could benefit as well, although the extent of shock mitigation differs across individual countries |
| Notes |
Description based on print version record |
| Form |
Electronic book
|
| Author |
Lemus, Anthony
|
| ISBN |
1463931220 |
|
9781463931223 |
|
