Optimum Currency Areas:New Analytical and Policy Developments

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International Monetary Fund, Jun 17, 1997 - Business & Economics - 114 pages
Robert Mundell's pioneering theory of optimum currency areas is revisited, with experts from the IMF, the BIS, the European Investment Bank, academia, European think tanks, and the Bank of Israel looking at its current practical applications, especially in the context of the forthcoming European Economic and Monetary Union (EMU). Robert Mundell himself offers an update to help in assessing the implications and consequences of EMU.
 

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Contents

Preface
1
Blejer Leonardo Leiderman and AssafRa n
7
Contributions of Robert A Mundell
15
Fixed Versus Floating Exchange Rates
51
The Endogeneity of the Optimum Currency Area Criteria
67
Ins Outs and the Macroeconomic Effects of Alternative
76
Two Concepts of Money and the Future of Europe
89
International Risk Sharing and European Monetary Unification
105
3
113
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