Concept
Zone monétaire optimale
Publications associées (7)
Quantifying the Benefits of Labor Mobility in a Currency Union
Unemployment differentials are bigger in Europe than in the United States. Migration responds to unemployment differentials, though the response is smaller in Europe. Mundell (1961) argued that factor mobility is a precondition for a successful currency un ...
2018On the Benefits of a Monetary Union: Does it Pay to Be Bigger?
This paper revisits the question of the appropriate domain of a currency area using a New-Keynesian open economy model in which the world is split in two areas, each framed as a continuum of small open regions. We show that the adoption of a common currenc ...
Center for Fiscal Policy Working Paper Series2013Optimal Monetary and Fiscal Policy in the EMU: Does Fiscal Policy Coordination matter?
I develop and analyze a DSGE model of a currency union to revise the question of how to conduct monetary and fiscal policy in countries that share the same currency. In contrast with the previous literature which assumes coordination, this paper analyzes t ...
Center for Fiscal Policy Working Paper Series2009