Cesarano, Filippo - In: Banca Nazionale del Lavoro Quarterly Review 59 (2006) 237, pp. 193-209
This paper contrasts the received view of optimum currency areas with the modernequilibrium approach. Setting Mundell's work against earlier analyses of monetary unions exposes the peculiarities of his theory, embedded in the static Keynesian paradigm. Mundell's hypothesis, constructed on the...
