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Erschienen in:
2008 | OriginalPaper | Buchkapitel
Optimum Monetary Policy during Monetary Union Enlargement
verfasst von : Ali Sina Önder
Erschienen in: Quantitative Economic Policy
Verlag: Springer Berlin Heidelberg
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When the theory of optimum currency areas was first introduced, it was considered as a theoretical analysis of fixed and flexible exchange rate regimes. With the formation of the European Economic and Monetary Union (EMU) and the introduction of the euro as its single currency in 1999, the discussion of optimum currency areas and the idea of a single monetary authority governing the monetary policy for all members of the currency union shifted from being a theoretical question to being a practical concern that had immediate policy implications.