Economics of Monetary Union (12th edition)

Author (Person)
Publication Date 2018
ISBN 978-0-19-880522-9
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The twelfth edition of 'Economics of Monetary Union' provides a concise analysis of the theories and policies relating to monetary union. The author addresses current issues surrounding the Eurozone, including; a critical discussion of the costs and benefits of possible exits by its member countries, an analysis of the role of the ECB as new single supervisor and detail on the sovereign debt crisis.

In Part One the author examines the implications of adopting a common currency, assessing the benefit to each country from being a member of the Eurozone, whilst also questioning whether other parts of the world would gain from monetary unification. Part Two of the book looks at the problems of running a monetary union by analysing Europe's experience and the issues faced by the European Central Bank.

Table of contents:

  • Part 1 | Costs and benefits of monetary union
    • The costs of a common currency
    • The theory of optimum currency areas: a critique
    • The benefits of a common currency
    • Costs and benefits compared
  • Part 2 | Monetary union
    • The fragility of incomplete monetary unions
    • The transition to a monetary union
    • How to complete a monetary union
    • Political economy of deconstructing the Eurozone
    • The European Central Bank
    • Monetary policy in the Eurozone
    • Fiscal policies in monetary unions
    • The euro and financial markets

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