Jump to ContentJump to Main Navigation
Prospects for Monetary Cooperation and Integration in East Asia$
Users without a subscription are not able to see the full content.

Ulrich Volz

Print publication date: 2010

Print ISBN-13: 9780262013994

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262013994.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2017. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use (for details see http://www.mitpress.universitypressscholarship.com/page/privacy-policy).date: 19 February 2018

The Standard Approach: The Theory of Optimum Currency Areas

The Standard Approach: The Theory of Optimum Currency Areas

Chapter:
(p.49) 5 The Standard Approach: The Theory of Optimum Currency Areas
Source:
Prospects for Monetary Cooperation and Integration in East Asia
Author(s):

Ulrich Volz

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262013994.003.0005

Optimum currency area (OCA) theory is basically concerned with an analysis of the costs and benefits of monetary integration, that is, the costs and benefits of flexible exchange rates relative to those of pegged exchange rate regimes or full monetary unification. This chapter discusses the costs and benefits of monetary integration along the lines of OCA theory and evaluates whether East Asia satisfies the conditions for an OCA. It shows that East Asia is not much further away from optimality than today’s euro area was maybe ten or twenty years ago.

Keywords:   OCA, monetary integration, costs, benefits, exchange rates, East Asia

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.