This paper deals with the possible future strengthening of the economical integration among the countries of Mercosul, similar to the European integration related to the Maastricht agreement. Some of the problems associated to the coordination of macroeconomic policies and the monetary...

This paper aims to discuss the proposal for monetary union in Mercosur in the light of the theory of Optimal Currency Area (OCA). It shows that there is no evidence that macroeconomic convergence can be reached in Mercosur, since the area only minimally achieved some basic criteria defined by...