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Optimal Monetary Areas And Monetary Policy. An Analysis Over World Power Centers

Author

Listed:
  • Tudor Mugurel Aursulesei

    (Doctoral School of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iasi, Iasi, Romania)

  • Stefan Catalin Topliceanu

    (Doctoral School of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iasi, Iasi, Romania)

Abstract

The phenomenon of power in international relations has always caused interest. The current international environment is extremely amplified and interconnected, and developments in recent decades have led to the foundation of a multipolar system. At present, the competition between power centers in the world economy is manifested at all levels of power, especially from an economic perspective. There is a clear desire for the Western European states that are members of the European Union and the BRICS to detach from their financial dependence on the US dollar and the United States financial instruments. We propose to analyze whether there are correlations between the monetary policies adopted by these entities and the characteristics of the optimal monetary areas. If monetary policy moves closer to the optimal monetary area specifications, then does that global influence increase?

Suggested Citation

  • Tudor Mugurel Aursulesei & Stefan Catalin Topliceanu, 2019. "Optimal Monetary Areas And Monetary Policy. An Analysis Over World Power Centers," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 4(Special), pages 19-28, May.
    • Handle: RePEc:ora:jrojbe:v:4:y:2019:i:special:p:19-28
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    References listed on IDEAS

    as
    1. Padoa-Schioppa, Tommaso, 2000. "The Road to Monetary Union in Europe: The Emperor, the Kings, and the Genies," OUP Catalogue, Oxford University Press, number 9780199241767.
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    More about this item

    Keywords

    power centers; monetary union; economic power; optimal monetary area; monetary policy.;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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