Optimum‐Currency‐Area Paradoxes

George Tavlas

Review of International Economics, 2009, vol. 17, issue 3, 536-551

Abstract: Contributions by Mundell (1961), McKinnon (1963), and Kenen (1969) laid the foundations for all subsequent work in the area of the theory of optimum currency areas. The development of the optimum‐currency‐area paradigm, however, has not been a smooth one. After a rise in research activity during the 1960s, the paradigm fell from favor in the 1970s and 1980s, before it re‐emerged as an active area of research. This paper argues that the decline of the theory as an active area of research partly reflects paradoxes among the contributions of Mundell, McKinnon, and Kenen. Correspondingly, the renewed interest in the theory is due, in part, to a reconciliation of those paradoxes, reflecting both developments in academic thought and the evolution of the international monetary system.

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (36)

Downloads: (external link)
https://doi.org/10.1111/j.1467-9396.2009.00832.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:reviec:v:17:y:2009:i:3:p:536-551

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0965-7576

Access Statistics for this article

Review of International Economics is currently edited by E. Kwan Choi

More articles in Review of International Economics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().