Why a Monetary Union?

Hubert Kempf
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Hubert Kempf: École Normale Supérieure Paris-Saclay

Chapter 2 in Monetary Unions, 2022, pp 39-75 from Springer

Abstract: Abstract This chapter focuses on the properties of a monetary union, the desirability of its membership both from the point of view of an economy considering entering a monetary union and from the point of view of its actual member countries (or regions). It explores the various theories offered by economists to answer these questions. Starting with a discussion of the optimal currency area theory developed by Mundell, it then addresses the issue of credibility of a monetary union. The extend of a monetary union, that is its membership, is discussed as well as the most significant changes induced by the creation of a monetary union.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-93232-9_2

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DOI: 10.1007/978-3-030-93232-9_2

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