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Teorie optimálních mìnových zón: rámec k diskuzím o monetární integraci

Author

Listed:
  • Roman Horváth
  • Luboš Komárek

Abstract

The authors contend that the theory of optimum currency areas (OCA) provides a useful framework for discussions of monetary integration. The authors summarize the historical development of monetary integration and discuss possible future development. Theoretical issues, such as those raised in literature on OCA in the 1960s and by the modern „endogenous view“ are considered alongside empirical studies regarding OCA theory applied to the EMU and the Czech Republic, and a socalled OCA-index is calculated. The authors conclude that OCA theory is a longterm theory and that it does not possess sufficient operational precision.

Suggested Citation

  • Roman Horváth & Luboš Komárek, 2002. "Teorie optimálních mìnových zón: rámec k diskuzím o monetární integraci," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 52(7-8), pages 386-407, July.
    • Handle: RePEc:fau:fauart:v:52:y:2002:i:7-8:p:386-407
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    More about this item

    Keywords

    optimal currency area; transition; European Union; central banking;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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