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von Ländern zur Teilnahme an der EWU. Es wird gezeigt, daß diese Kriterien weder die Theorie optimaler Währungsgebiete … the theory of optimum currency areas (OCA) nor can they avoid the so-called endogeneity problem. Opposed to that the level …
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Mundell's optimal currency area model has been misconstrued, being at base an argument against multiple currencies as Mundell himself stated in that paper and frequently since. This paper shows two things. First use of this model has generated beggar-thy-neighbour advice concerning exchange rate...
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