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Adventures of the optimum currency areas theory

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  • S. Moiseev

Abstract

The theory of optimum currency areas was created by three famous economists, R. Mandell, R. McKinnon and P. Kenen. They identified characteristics that potential participants of a currency area should possess in order to make it feasible to surrender the independent monetary policy and the adjustment of an exchange rate of a national currency. We consider the historical development of the optimum currency areas theory and review factors which led to renewal of the theory in the early 1990s. The article focuses on some important links between historic facts, development of the economic theory, and public policy.

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  • S. Moiseev, 2016. "Adventures of the optimum currency areas theory," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 2.
    • Handle: RePEc:nos:voprec:y:2016:id:163
    DOI: 10.32609/0042-8736-2016-2-56-76
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    File URL: https://www.vopreco.ru/jour/article/viewFile/163/163
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    Cited by:

    1. L. A. Strizhkova & G. R. Islamova & S. I. Kashirskaya, 2022. "Intercountry Input–Output Table of the Eurasian Economic Union as a Component of the Tools for Analysis and Forecasting of Its Economy," Studies on Russian Economic Development, Springer, vol. 33(2), pages 135-148, April.

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