This book discusses the future of MERCOSUR, focusing on monetary union and macroeconomic policy co-ordination, and … particular reference to the experience of EMU and the lessons which can be learnt by MERCOSUR countries, in terms of the …pt. 1. Lessons from the Euro and EMU for MERCOSUR -- pt. 2. MERCOSUR macroeconomic policy co-ordination -- pt. 3 …

Academic debate in South America favours a Mercosur monetary union based on the euro and the European Monetary Union … single currency in the EMU mould of monetary union, is appropriate and feasible for the Mercosur. Three lessons are derived … for Mercosur from the euro and the EMU experience: the adoption of the EMU model of monetary union would imply …

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 …