Policy Issues in the Operation of Currency Unions

An overview and the latest research on single currency areas in Europe, the US, and the former USSR.

Paul R. Masson (Edited by), Mark P. Taylor (Edited by)

9780521434553, Cambridge University Press

Hardback, published 23 September 1993

328 pages, 10 b/w illus. 65 tables
23.5 x 15.8 x 2.2 cm, 0.6 kg

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 In addition to a specially written survey chapter by the editors, it contains previously unpublished contributions by leading researchers in the field, discussing real and potential currency unions in the United States, the former Soviet Union, Europe, and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.

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.

Subject Areas: Macroeconomics [KCB]