Optimum currency areas: new analytical and policy developments
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.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Blejer Leonardo Leiderman and Assaf Razin
A Theory of Optimum Currency Areas 1961
8 other sections not shown
Other editions - View all
adjustment anti-inflation argument for flexible Aviv University bias Bundesbank capital inflows common currency context costs countries credibility criteria currency union debate debt deflator degree of openness dollar economic and monetary effects equilibrium euro Europe European central bank European currency European Monetary European Union exchange rate regime factor mobility federal fiscal authorities fiscal policy fiscal stabilization fixed exchange rates flexible exchange rates flexible rates floating framework gold standard implications income inflation rate inflation target interest rates international monetary system issue join Laxton Maastricht macroeconomic monetary and fiscal monetary integration monetary policy money illusion money supply Mundell-Fleming model Mundell's national currencies nomic number of currencies OCA theory optimal optimum currency area paper policy makers political price stability problem Razin regions relative rency area result Ricardian equivalence Robert Mundell role seigniorage single currency theory of optimum tion tional trade unemployment unification variables