The Economics of Common Currencies: Proceedings of the Madrid Conference on Optimum Currency Areas

This volume provides a comprehensive survey of the theory and policy implications of monetary integration, including fixed exchange rates, economic doctrine, policy coordination, and monetary union in developing countries. It predicts the establishment of an European currency but presents the case for greater flexibility of exchange rates as an alternative.

Format: Paperback / softback
Length: 302 pages
Publication date: 30 September 2021
Publisher: Taylor & Francis Ltd

This comprehensive volume, compiled from the papers presented at the Madrid Conference on Optimum Currency Areas in 1970, stands as a pioneering exploration of the theory and practical implications of monetary integration. It delves into various crucial aspects, including:

The economics of fixed exchange rates, crucial for monetary relations within an integrated monetary area.

The evolution of economic doctrine and a comprehensive survey of optimum currency area theory.

Challenges of policy coordination within a currency area, including the role of monetary-fiscal policy mix.

The relevance of monetary union in developing countries and the complexities involved.

The book also made a noteworthy prediction, advocating for the establishment of an European currency, while simultaneously presenting an alternative argument for greater flexibility of exchange rates as a means to achieve currency unification.

Through its in-depth analysis and insightful perspectives, this volume serves as a valuable resource for scholars, policymakers, and anyone interested in understanding the dynamics of monetary integration and its potential implications for global economic stability and growth.

Dimension: 234 x 156 (mm)
ISBN-13: 9781032029580