The Economic and Monetary Union – An Optimum Currency Area?
The Economic and Monetary Union – An Optimum Currency Area?
Author(s): Ramona Andreea TeicaSubject(s): Supranational / Global Economy, Financial Markets, Public Finances
Published by: Editura Universitaria Craiova
Keywords: critical; optimum currency area; Economic and Monetary Union; criteria;
Summary/Abstract: The paper aims to analyze the existing literature which addresses the theory of optimum currency areas and criteria necessary to consider a currency area to be optimal. Since the early 60's the theory of optimum currency areas highlighted the essential conditions for a monetary union to be succeed, conditions relating to labor mobility and capital, the wage and price flexibility and the synchronization of business cycles. Therefore, based on the idea that E.M.U. is not an optimum currency area I have presented the expected earnings and costs of a monetary union.
Journal: Revista tinerilor economişti
- Issue Year: 2013
- Issue No: 20
- Page Range: 85-93
- Page Count: 9
- Language: English