Establishing a Monetary Union

Russell Cooper and Hubert Kempf ()

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: In contrast to Mundell's inquiry on the optimality of currency areas, this paper aims to understand under what circumstances will a Pareto-dominant monetary union be established. Using a multi-country overlapping generations model, we highlight gains from monetary union arising from reduced transactions costs and lower inflation.

Keywords: MONETARY UNION; CURRENCIES; INFLATION (search for similar items in EconPapers)
JEL-codes: E50 E58 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2000
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Related works:
Working Paper: Establishing a Monetary Union (1998)
Working Paper: Establishing a Monetary Union (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:2000.28

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