Policy Issues in the Operation of Currency Unions

Policy Issues in the Operation of Currency Unions

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Cambridge University Press

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Policy Issues in the Operation of Currency Unions

This book provides an overview as well as the latest research on currency unions—geographical areas throughout which a single currency circulates as the medium of exchange. The issues discussed are central to debates on Economic and Monetary Union in Europe, and the future of Eastern Europe. In addition to a specially written survey chapter by the editors, it contains previously unpublished contributions by leading researchers in the field, discussing real and potential currency unions in the United States, the former Soviet Union, Europe and Africa.

Product Details

ISBN-13: 9780521434553
Publisher: Cambridge University Press
Publication date: 09/23/1993
Pages: 328
Product dimensions: 6.22(w) x 9.21(h) x 0.87(d)

Table of Contents

List of contributors; Preface; Part I. Assessing the Literature: 1. Currency unions: a survey of the issues Paul R. Masson and Mark P. Taylor; Part II. Existing Currency Unions: 2. Costs and benefits of economic and monetary union David Gros; 3. Private capital markets and adjustment in a currency union Andrew Atkeson and Tamim Bayoumi; 4. The economics of the CFA franc zone James M. Boughton; Part III. Is Europe an Optimum Currency Area?: 5. Is Europe an optimum currency area? Paul de Grawe and Wim Vanhaverbeke; 6. Labor markets and European monetary unification Barry Eichengreen; 7. European excess stock returns and capital market integration Patricia Fraser and Ronald MacDonald; Part IV. EMU: The Road From Maastricht: 8. The European system of central banks after Maastricht Charles A. E. Goodhart; 9. A European money demand function Michael J. Artis, Robin C. Bladen-Hovell and Wenda Zhang; 10. Monetary union and fiscal union Jürgen von Hagen; Index.

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