The Economics of Common Currencies (Collected Works of Harry Johnson): Proceedings of the Madrid Conference on Optimum Currency Areas

1st Edition

Harry G. Johnson, Alexander K. Swoboda

Published March 15, 2013
Reference - 302 Pages
ISBN 9780415832557 - CAT# Y149028
Series: Collected Works of Harry G. Johnson


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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.

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