A history of the theories on Optimum Currency Areas

Fabio Masini

The European Journal of the History of Economic Thought, 2014, vol. 21, issue 6, 1015-1038

Abstract: The historical reconstructions of the theories of Optimum Currency Areas (OCA) are usually biased by the underlying theoretical and policy orientation of their authors, they often provide a sort of internalist explanation of advancement in economic theory (assuming that economic theory evolves for internal reasons defined by theorists in the discipline) and sometimes neglect the influence of particular events and policy debates on the theoretical discussions. The impression is that some important links between facts, economic theorising and public policies are not yet clearly identified. The paper aims at investigating such relationships in a historical perspective, with a special reference to the evolving role of endogenous and exogenous criteria to the study of OCA.

Date: 2014
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DOI: 10.1080/09672567.2014.966130

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