Establishing a Monetary Union
In contrast to Mundell's inquiry on the optimality of currency areas, this paper aims to understand under what circumstances will a Pareto-dominant monetary union be established. Using a multi-country overlapping generations model, we highlight gains from monetary union arising from reduced transactions costs and lower inflation.
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|Date of creation:||2000|
|Contact details of provider:|| Postal: France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France|
Phone: + 33 44 07 81 00
Fax: + 33 1 44 07 83 01
Web page: http://cermsem.univ-paris1.fr/
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- Fuerst, Timothy S., 1992. "Liquidity, loanable funds, and real activity," Journal of Monetary Economics, Elsevier, vol. 29(1), pages 3-24, February.
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