The European Monetary System and the United Kingdom

Graham Bird

Chapter 11 in International Macroeconomics, 1987, pp 151-158 from Palgrave Macmillan

Abstract: Abstract The theory of optimum currency areas (OCAs) was discussed briefly towards the end of Chapter 7. From this discussion emerged a list of characteristics which assist in demarcating the boundaries of an OCA. Also implicit in the discussion was the question of whether a country should join a currency area by pegging the value of its currency to those of other currencies in the area, or whether it should remain outside the area and retain the freedom to operate an independent exchange-rate policy.

Keywords: Exchange Rate; Central Bank; Fiscal Policy; Foreign Exchange Market; European Monetary System (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-09829-0_11

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DOI: 10.1007/978-1-137-09829-0_11

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