Currency union in Mercosul

Helder de Mendonça () and Anabel da Silva ()

Brazilian Journal of Political Economy, 2004, vol. 24, issue 1, 121-136

Abstract: “Currency Union in Mercosul”. Nowadays, influenced by the European experience, several Brazilian economists have given special attention to the possibility of a currency union among the countries of Mercosul. This paper makes a brief analysis of the main theoretical aspects that represent the basis for the proposition of a currency area. Besides this, the paper shows two distinct views in the national literature concerning the hypothesis of the creation of a currency area for the Mercosul. The main conclusion of this article is that the proposal mentioned above is not feasible, because the costs of macroeconomic coordination are too high. JEL Classification: E42; F33.

Keywords: Monetary union; Mercosur; monetary system (search for similar items in EconPapers)
Date: 2004
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