Details

Autor(en) / Beteiligte

• Kenen, Peter B

Titel

There Was No Analytical Alternative to the Theory of Optimum Currency Areas

Ist Teil von

• Econ journal watch, 2010-01, Vol.7 (1), p.73

Ort / Verlag

Fairfax: Fraser Institute

Erscheinungsjahr

2010

Quelle

Business Source Ultimate【Trial: -2024/12/31】【Remote access available】

Beschreibungen/Notizen

• Lars Jonung and Eoin Drea have produced a remarkably thorough and fair account of U.S. economists views on EMU during the years before it came into being. I cannot quarrel with their account of my own views, or those of others with whose work I am familiar, as they evolved during the period they cover. There was, I agree, excessive reliance by U.S. economists on the theory of optimum currency areas, which posited a binary choice between fixed and floating exchange rates, and these were not the options that bounded the evolution of European thinking.