Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/16850
Citations | ||
Scopus | Web of ScienceĀ® | Altmetric |
---|---|---|
?
|
?
|
Type: | Journal article |
Title: | Currency areas in theory and practice |
Author: | Pomfret, R. |
Citation: | The Economic Record, 2005; 81(253):166-176 |
Publisher: | Blackwell Publishing Asia |
Issue Date: | 2005 |
ISSN: | 0013-0249 1475-4932 |
Statement of Responsibility: | Richard Pomfret |
Abstract: | The dominant theoretical framework for analysing currency domains, optimum currency area (OCA) theory, has a miserable record in explaining actual currency area formation, expansion or dissolution. Ministates use foreign currencies to avoid high transactions costs; otherwise countries want control over their monetary policy. Nations do not tolerate multiple currencies, because they complicate public revenue and expenditure decisions. These arguments regarding control of monetary policy and content of fiscal policy differ from the OCA theory's emphasis on a trade-off between the microeconomic transactions costs benefits of a wider currency area and the macroeconomic policy benefits of a narrower currency area. |
Description: | The definitive version is available at www.blackwell-synergy.com |
DOI: | 10.1111/j.1475-4932.2005.00241.x |
Published version: | http://www.blackwell-synergy.com/doi/abs/10.1111/j.1475-4932.2005.00241.x |
Appears in Collections: | Aurora harvest 2 Economics publications |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.