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A Brief History Of The Integrating Optimized Walking Areas In Traditional Theory

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  • Ana-Maria Hlaciuc

    (Stefan cel Mare University of Suceava, Romania)

Abstract

The theory of credibility (George Tavlas) pursues a neoclassical approach, ignoring the demand side. If aggregate offer is the subject of asymmetric shocks, it can no longer be possible to assert the superiority of the fixed rule to discretion, so that giving up currency and currency independence can result as very expensive. Considering Keynesian origin, the traditional theory of optimal foreign exchange areas has focused on the demand side, ignoring the supply. As early as 1969, Kenen (P. B. Kenen) considered the technology shock to be provoked by supply, coupled with other shocks that hit demand, driven largely by changes in consumer preferences.

Suggested Citation

  • Ana-Maria Hlaciuc, 2017. "A Brief History Of The Integrating Optimized Walking Areas In Traditional Theory," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(1), pages 1-19, January.
    • Handle: RePEc:scm:ecofrm:v:6:y:2017:i:1:p:19
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    File URL: http://ecoforumjournal.ro/index.php/eco/article/view/641/372
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