The Optimum Currency Area. Is the Euro Zone an Optimum Currency Area?

Paula Geza and Laura Giurca Vasilescu

MPRA Paper from University Library of Munich, Germany

Abstract: Although analyzed in terms of criteria for defining an optimum currency area, we could appreciate that EU fulfils certain criteria established within the theory of the optimum currency area. But in comparison with USA or Canada, the EU has less premises to effectively become such an area. The Economic and Monetary Union considered, from a certain point of view, the most ambitious and risky project of the European construction, is the result of a fundamental political decision within a powerful economic component. Despite the statute of sub-optimum currency area, there are still a series of arguments, both supportive and critical, for the settlement of an Economic and Monetary Union within the European space.

Keywords: Optimum Currency Area; Monetary Integration; Currency; Economic and Monetary Union (search for similar items in EconPapers)
JEL-codes: E42 F36 (search for similar items in EconPapers)
Date: 2011-03-17
New Economics Papers: this item is included in nep-mac and nep-mon
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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