Taux de change et régions : un cadre conceptuel pour anticiper l'euro
The impact in the long run of exchange rate is differentiated between the regions of a country or of a monetary zone. Nevertheless, very few theoretical or empirical work has been done in that field. On the one hand, standard international trade theory considers the national space as being homogenous. On the other hand, work on regional production systems do not integrate macroeconomic variables like the exchange rate. In a complementary approach, MUNDELL (1961) considered that an optimal monetary zone should encompass regions who react in a symmetric way to external chocks. Otherwise, unfavoured regions would endure significant adjustment costs. This idea is fundamental. Nevertheless, this article addresses rather its corollaries. Given that a currency is used by a set of regions who react in an asymmetric way to exchange rates evolution, how do these regions adapt in the long run ? A typology of expected impacts is built. These questions are essential in the context of european monetary integration. How will real production systems react in the long run as they can no longer rely on exchange rates adaptations between european markets ? Classification JEL : F310, R110, R300, R380, R510.
Volume (Year): décembre (2001)
Issue (Month): 5 ()
|Contact details of provider:|| Web page: http://www.cairn.info/revue-d-economie-regionale-et-urbaine.htm|
When requesting a correction, please mention this item's handle: RePEc:cai:rerarc:reru_015_0691. 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: (Jean-Baptiste de Vathaire)
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.