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...

"Responding to global events, including the international financial crisis (IFC) and the COVID-19 pandemic, central banks and the monetary regimes in many Latin American countries responded with actions to mitigate the worst impacts. The authors in this book focus on the recent trends of...