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The European Monetary System and the United Kingdom

In: International Macroeconomics

Author

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  • Graham Bird

    (University of Surrey)

Abstract

The theory of optimum currency areas (OCAs) was discussed briefly towards the end of Chapter 7. From this discussion emerged a list of characteristics which assist in demarcating the boundaries of an OCA. Also implicit in the discussion was the question of whether a country should join a currency area by pegging the value of its currency to those of other currencies in the area, or whether it should remain outside the area and retain the freedom to operate an independent exchange-rate policy.

Suggested Citation

  • Graham Bird, 1987. "The European Monetary System and the United Kingdom," Palgrave Macmillan Books, in: International Macroeconomics, chapter 11, pages 151-158, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-09829-0_11
    DOI: 10.1007/978-1-137-09829-0_11
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