Monetary Unions: Between International Trade and National Sovereignty

Hubert Kempf ()

Chapter 1 in Monetary Unions, 2022, pp 3-37 from Springer

Abstract: Abstract This chapter presents the main issues to be associated with the design of a monetary union. It shows that it results from a tension between the necessity to open economies to trade and exchanges and the requests implied by monetary sovereignty. Monetary sovereignty can be shared among different policy-makers, either in a national or in an international context, creating a monetary union. The consequences of the suppression of exchange rates due to monetary unification are discussed. Finally, it is shown how a monetary union can be conceived as a particular type of international monetary system.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-93232-9_1

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DOI: 10.1007/978-3-030-93232-9_1

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