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Currency Areas and Equilibrium

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Author Info
Filippo Cesarano
Abstract

The standard approach to optimum currency areas clashes with both modern monetary theory and empirical evidence. The present paper sets forth an equilibrium hypothesis that views the national border as the analogue of a policy measure impinging on agents' optimizing behavior. Copyright Kluwer Academic Publishers 1997

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File URL: http://hdl.handle.net/10.1023/A:1008237132665
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Publisher Info
Article provided by Springer in its journal Open Economies Review.

Volume (Year): 8 (1997)
Issue (Month): 1 (January)
Pages: 51-59
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Handle: RePEc:kap:openec:v:8:y:1997:i:1:p:51-59

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Related research
Keywords: optimum currency areas; monetary union;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Laidler, D., 1988. "Taking Money Seriously," UWO Department of Economics Working Papers 8804, University of Western Ontario, Department of Economics.
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  2. Thomas Willett & Edward Tower, 1970. "Currency areas and exchange-rate flexibility," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 105(1), pages 48-65, September. [Downloadable!] (restricted)
  3. Genberg, Hans, 1989. " Exchange Rate Management and Macroeconomic Policy: A National Perspective," Scandinavian Journal of Economics, Blackwell Publishing, vol. 91(2), pages 439-69.
  4. McCallum, John, 1995. "National Borders Matter: Canada-U.S. Regional Trade Patterns," American Economic Review, American Economic Association, vol. 85(3), pages 615-23, June. [Downloadable!] (restricted)
  5. Melitz, Jacques, 1995. "The current impasse in research on optimum currency areas," European Economic Review, Elsevier, vol. 39(3-4), pages 492-500, April. [Downloadable!] (restricted)
  6. Krugman, P., 1993. "What Do We Need to Know About the International Monetary System?," Princeton Studies in International Economics 190, International Economics Section, Departement of Economics Princeton University,.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Lars Jonung, 2002. "EMU and the Euro - The First Ten Years. Challenges to the sustainability and price stability of the euro area - what does history tell us?," EUI-RSCAS Working Papers 46, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS). [Downloadable!]
  2. Michele Fratianni, 2004. "Borders and the Constraints on Globalization," Working Papers 2004-05, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy. [Downloadable!]
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