Advanced Search
MyIDEAS: Login to save this paper or follow this series

Optimal Currency Area Revisited


Author Info

  • Yves Mersch
Registered author(s):


    Several euro area member states are under increased market scrutiny although public finances in the euro area as a bloc are in a much better shape than in the US or Japan. The main reason is that the euro area is an alliance of sovereign countries with most of the relevant political decisions - including public finance - being taken by national governments whereas the other major currencies are sovereign states with central governments and budgets. In the absence of a central government and an internal nominal exchange rate, effective rules are required to safeguard the stability of a currency area. The current crisis has disclosed the weaknesses of the institutional set up of the euro area. Europe has already undertaken major steps to tackle these. Challenges remain, however, to further proceed in the direction of an Optimum Currency Area.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    File Function: Full text
    Download Restriction: no

    Bibliographic Info

    Paper provided by European University Institute in its series RSCAS Working Papers with number 2011/01.

    as in new window
    Date of creation: 14 Nov 2011
    Date of revision:
    Handle: RePEc:rsc:rsceui:2011/01

    Contact details of provider:
    Postal: Convento, Via delle Fontanelle, 19, 50014 San Domenico di Fiesole (FI) Italy
    Web page:
    More information through EDIRC

    Related research

    Keywords: euro area; public finance; institutional set up; Optimum Currency Area;


    No references listed on IDEAS
    You can help add them by filling out this form.



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:rsc:rsceui:2011/01. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (RSCAS web unit).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.