ABSTRACT
Gathering together the papers presented at the Madrid Conference on Optimum Currency Areas in 1970 this volume represents one of the first complete surveys of the theory and policy implication of monetary integration. The book discusses:
- the economics of fixed exchange rates relevant to monetary relations within an integrated monetary area
- the evolution of economic doctrine and a survey of optimum currency area theory
- problems of policy co-ordination within a currency area
- relevance of the monetary-fiscal policy mix
- problems of monetary union in developing countries
- the book predicted the establishment of an European currency but presented the case for greater flexibility of exchange rates as an alternative to currency unification.
TABLE OF CONTENTS
part I|67 pages
The Economics of Fixed Exchange Rates
chapter 3|19 pages
The Price-Specie-Flow Mechanism and the Gold-Exchange Standard
Some Exploratory Empiricism Relating to the Endogeneity of Country Money Balances
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part II|128 pages
The Economics of Common Currency Areas
part III|79 pages
The Economics of Flexible Exchange Rates
chapter 16|22 pages
Flexible Exchange Rates and Traded Goods Prices
The Role of Oligopoly Pricing in the Canadian Experience
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