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Optimum currency areas: a policy view

Author

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  • Filippo Cesarano

    (Banca d'Italia, Ufficio Ricerche Storiche, Roma (Italy))

Abstract

Since the mid-1990s new developments in the theory of optimum currency areashave set forth an equilibrium approach that, in contrast with the traditional viewstemming from Robert Mundell's seminal paper, considers the optimality criteria as the product of equilibrium forces and therefore endogenous. Notwithstanding their different characteristics, however, these alternative approaches are both useful to tackle different policy issues relating to the transition stage and the long-run operation of monetary unions.

Suggested Citation

  • Filippo Cesarano, 2006. "Optimum currency areas: a policy view," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 59(239), pages 317-332.
    • Handle: RePEc:psl:bnlqrr:2006:41
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9872/9754
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    References listed on IDEAS

    as
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    13. Filippo Cesarano, 2006. "The Origins of the Theory of Optimum Currency Areas," History of Political Economy, Duke University Press, vol. 38(4), pages 711-731, Winter.
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    Keywords

    currency;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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