Optimum currency areas: a policy view

Filippo Cesarano ()
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Filippo Cesarano: Banca d'Italia, Ufficio Ricerche Storiche, Roma (Italy)

Banca Nazionale del Lavoro Quarterly Review, 2006, vol. 59, issue 239, 317-332

Abstract: Since the mid-1990s new developments in the theory of optimum currency areashave set forth an equilibrium approach that, in contrast with the traditional viewstemming from Robert Mundell's seminal paper, considers the optimality criteria as the product of equilibrium forces and therefore endogenous. Notwithstanding their different characteristics, however, these alternative approaches are both useful to tackle different policy issues relating to the transition stage and the long-run operation of monetary unions.

Keywords: currency (search for similar items in EconPapers)
JEL-codes: F33 (search for similar items in EconPapers)
Date: 2006
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