On the theoretical determination of optimal currency areas in the framework of club theory

Friedrich L. Sell
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Friedrich L. Sell: Department of Economics, Technical University of Dresden, Germany

Finnish Economic Papers, 1996, vol. 9, issue 2, 126-143

Abstract: The paper provides an analytical approach to determine ex ante the optimal size (number ofparticipants) and the optimal monetary conditions (inflation rate) of a monetary union. In the first part, the case of homogenous members is presented from the »total economy point of view» put forward by club theory. In the second part, the case of heterogenous members is explained on the background of the prospective European Monetary Union. Here also the »individual member point of view» and stability problems are discussed.

JEL-codes: F31 F36 F41 F42 (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:fep:journl:v:9:y:1996:i:2:p:126-143

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