Optimal Currency Areas: A Fresh Look at the Traditional Criteria

1994 ◽  
pp. 23-43 ◽  
Author(s):  
Paul R. Masson ◽  
Mark P. Taylor
Keyword(s):  
Optimal Currency Areas

A suggested reformulation of the theory of optimal currency areas

1995 ◽  
Vol 6 (3) ◽  
pp. 281-298 ◽  
Author(s):  
Jacques M�litz
Keyword(s):  
Optimal Currency Areas

scholarly journals Waluty krajowe czy wspólnotowe? Oto jest pytanie!

Ekonomia ◽  
2020 ◽  
Vol 26 (1) ◽  
pp. 9-20
Author(s):  
Witold Kwaśnicki
Keyword(s):  
Economic Development ◽  
Free Banking ◽  
National Currencies ◽  
Optimal Currency Areas

What currency system is conducive to economic development? Economists from various economics schools are trying to answer this question.Different opinions of economists advocating the existence of a global currency as well as those who believe that there should be competition between currencies and the associated ‘free banking’ have been presented. The problems associated with the concept of optimal currency areas are also discussed. The last section discusses the controversy surrounding the question: “monetary commun-ities or national currencies?”.

scholarly journals Can Euro Zone Survive and Long Prosper?

2012 ◽  
Vol 4 (2) ◽  
pp. 121-128
Author(s):  
Dapontas Dimitrios
Keyword(s):  
Monetary Policy ◽  
International Organizations ◽  
Debt Crisis ◽  
Credit Crunch ◽  
Future Scenarios ◽  
Political Union ◽  
Euro Zone ◽  
National Currencies ◽  
Optimal Currency Areas ◽  
Short Time

The current problems on the aftermath of the global credit crunch left the weakest Euro countries in the turbulence of a debt crisis, which has been spread in five countries (Greece, Ireland, Portugal, Italy and Spain respectively) and raised the question of a Euro zone future survival. The surviving barriers have to do with limitations and restrictions on the single market, the lack of political union and different monetary policy targets. Incentives to secede are also present. However, a possible withdraw of a country would have high cost for all the participants and it could lead to monetary union’s demolition. The costs related with a possible withdraw are high, thus it is difficult for a country to leave a union. In the recent debt crisis, the countries accepted bailouts from their counterparts and international organizations in order to prevent the Euro zone collapse spreading the crisis further. Three possible Euro zone future scenarios are analyzed. The volunteer or not breakup of the union and reintroducing of national currencies, the breakup of the Euro zone to two currencies consisting Optimal Currency Areas (OCAs)is analyzed by using thirteen equally weighted optimum area criteria and the imposition of an interest equalization tax(IET) in order to make the Euro zone a single OCA. The results show that the asymmetries lead to the crisis persists in a possible two Euros area and this scenario cost is higher than union dissolution’s. An IET can help Euro zone in the short time to develop sustainable characteristics.

scholarly journals Rethinking Optimal Currency Areas

2020 ◽  
Vol 111 ◽  
pp. 80-94 ◽  
Author(s):  
V.V. Chari ◽  
Alessandro Dovis ◽  
Patrick J. Kehoe
Keyword(s):  
Optimal Currency Areas

Optimal Currency Areas, Large and Small

1995 ◽  
pp. 210-220
Author(s):  
William H. Branson
Keyword(s):  
Optimal Currency Areas
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