The economics of monetary integration

書誌事項

The economics of monetary integration

Paul de Grauwe

Oxford University Press, 1992

  • : pbk

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注記

Includes bibliographical references (p. [180]-187) and index

内容説明・目次

内容説明

This expositive textbook on monetary integration looks at the economic costs and benefits of such a union in Europe. The author examines such topical issues as whether there is a good economic case for countries to have separate currencies, and whether a nation increases its welfare when it abolishes its national currency and adopts a currency of a wider area. These questions lead to others concerning the size of an optimal monetary area - should this include the EC, the whole of Europe or the whole world? The first part of the book focuses on complete monetary unions in which a common currency is substituted for national currencies. The second part looks at incomplete monetary unions in which national monetary authorities maintain their national currencies but agree to fix their exchange rates. This leads to an analysis of the European Monetary System and also examines the issues relating to the transition to a full monetary system.

目次

  • Part 1 Costs and benefits of monetary union: the costs of a common currency
  • the theory of optimum currency areas - a critique
  • the benefits of a common currency
  • costs and benefits compared. Part 2 Monetary integration: incomplete monetary unions - the European Monetary System
  • the transition to a monetary union
  • a European central bank
  • fiscal policies in monetary unions.

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