| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP590 |
| DP590 A Suggested Reformulation of the Theory of Optimal Currency Areas | |
| Jacques MELITZ | |
| 发表日期 | 1991-10-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | In contrast to conventional analyses of monetary union between two particular countries or sets of countries, this paper treats the possible expansion of a given currency area as a continuous variable ranging from zero to one; zero if there is no expansion and one if all sources of imports and competition in trade are included in the union. The optimal order in which new members are admitted to the union then becomes one aspect of the problem. It is shown that by using this approach, it is easier to defend the argument that many nations are too small to form optimal currency areas. The demands upon the origin of the shocks, factor mobility, and political organization are smaller. The approach also fits better with the evidence. |
| 主题 | International Macroeconomics |
| 关键词 | Emu Exchange rate regimes Fiscal federalism Monetary reform Optimum currency area |
| URL | https://cepr.org/publications/dp590 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529747 |
| 推荐引用方式 GB/T 7714 | Jacques MELITZ. DP590 A Suggested Reformulation of the Theory of Optimal Currency Areas. 1991. |
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