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Teorie optimálních mìnových zón: rámec k diskuzím o monetární integraci

Roman Horvath and Lubos Komarek ()

Czech Journal of Economics and Finance (Finance a uver), 2002, vol. 52, issue 7-8, 386-407

Abstract: The authors contend that the theory of optimum currency areas (OCA) provides a useful framework for discussions of monetary integration. The authors summarize the historical development of monetary integration and discuss possible future development. Theoretical issues, such as those raised in literature on OCA in the 1960s and by the modern „endogenous view“ are considered alongside empirical studies regarding OCA theory applied to the EMU and the Czech Republic, and a socalled OCA-index is calculated. The authors conclude that OCA theory is a longterm theory and that it does not possess sufficient operational precision.

Keywords: optimal currency area; transition; European Union; central banking (search for similar items in EconPapers)
JEL-codes: E32 E42 F33 F42 (search for similar items in EconPapers)
Date: 2002
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Handle: RePEc:fau:fauart:v:52:y:2002:i:7-8:p:386-407