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Currency union in Mercosul

Author

Listed:
  • Helder Ferreira de Mendonça

    (Departamento de Economia da Universidade Federal Fluminense – UFF, Niterói/RJ, Brasil.)

  • Anabel da Silva

    (Departamento de Economia da Universidade Federal Fluminense - UFF, Niterói/RJ, Brasil)

Abstract

“Currency Union in Mercosul”. Nowadays, influenced by the European experience, several Brazilian economists have given special attention to the possibility of a currency union among the countries of Mercosul. This paper makes a brief analysis of the main theoretical aspects that represent the basis for the proposition of a currency area. Besides this, the paper shows two distinct views in the national literature concerning the hypothesis of the creation of a currency area for the Mercosul. The main conclusion of this article is that the proposal mentioned above is not feasible, because the costs of macroeconomic coordination are too high. JEL Classification: E42; F33.

Suggested Citation

  • Helder Ferreira de Mendonça & Anabel da Silva, 2004. "Currency union in Mercosul," Brazilian Journal of Political Economy, Center of Political Economy, vol. 24(1), pages 121-136, January.
    • Handle: RePEc:ekm:repojs:v:24:y:2004:i:1:id:95772
    DOI: 10.1590/0101-31572004-1631
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    Keywords

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    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Systems; Standards; Regimes; Government and the Monetary System
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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