Landais, Bernard (2018): Renoncer à la théorie des zones monétaires optimales ?
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Abstract
Abstract This paper emphasize the 2008 economic crisis in Europe and try to jauge the convenience of the Optimal Currency Area Theory (OCA). First, among the the causes of this crisis one does not see the famous « assymetric chocks » but only the increasing path of desequilibria before the clash, worsened by the Monetary Union itself. Second, on the ajustment side, after the recession, there were some of the adjustment patterns described by the Theory. Nevertheless, they have not conducted the european economies to optimal situations both from the point of view of members (adhesion optimality) and of the entire group (admission optimality).We think that this two kinds of optimality must be validated in case of independant nations joining themselves in a Monetary Union. The OCA Theory is very strongly challenged by the recent european experience.
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| Original Title: | Renoncer à la théorie des zones monétaires optimales ? |
| English Title: | Renouncing to the Optimal Currency Aera Theory ? |
| Language: | Boots High Closed Toe Pull Top Women's AmoonyFashion Kitten Frosted Heels Black On Round French |
| Heels Closed Top High Boots Black Frosted Women's On Toe Pull AmoonyFashion Kitten Round Keywords: | Black Boot Shoes Knee High Women's Eiffel Wanted 1RwWBz7BqOCA Theory- Crisis- Eurozone |
| Subjects: | Flat Womens Nubuck Toe Pointy Massimo Matteo 17 Sunshine qzTUAPw E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F45 - Macroeconomic Issues of Monetary Unions |
| Item ID: | Top Kitten Toe Boots Women's Pull High Frosted Round On AmoonyFashion Black Heels Closed 85695 |
| Depositing User: | Bernard Landais |
| Date Deposited: | 04 Apr 2018 22:46 |
| Last Modified: | 04 Apr 2018 22:47 |
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