Monetary Policy as an Optimum Currency Area Criterion

Whether countries benefit from forming a monetary union depends critically on the way monetary policy is conducted. This is mainly because monetary policy determines whether and to what extent a flexible nominal exchange rate fosters or hampers macroeconomic stabilization, even if monetary policy does not target the nominal exchange rate explicitly

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Year of publication:	2014-11
Authors:	Groll, Dominik
Institutions:	Institut für Weltwirtschaft (IfW)
Subject:	Monetary union \| macroeconomic stabilization \| welfare analysis \| optimum currency area theory \| trade openness

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Series:	Kiel Working Papers.
Type of publication:	Book / Working Paper
Notes:	33 pages
Classification:	F33 - International Monetary Arrangements and Institutions ; F41 - Open Economy Macroeconomics ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010960602