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The ninth edition of Economics of Monetary Union provides a concise analysis of the theories and policies relating to monetary union. The author analyses both the costs and benefits associated with having one currency, as well as the practical workings and current issues with the Euro.
In Part One the author examines the implications of adopting a common currency; assessing the countries benefit from being in the Eurozone members, while 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.
Review comments:
'As a book that focuses on the Economics of the EMU, it is literally and metaphorically without competition and thus beyond compare'. Professor Rob Ackrill, Nottingham Trent University
'I think it is the best in the field.' Dr Matteo Iannizzotto, Durham University
'It is clearly the leading textbook for lecturers teaching modules in European Integration and a key reference for students and researchers.' Dr Jan Fidrmuc, Brunel University
Online Resource Centre:
For Students:
Links to data sources
Essay questions
links to articles and papers
For Lecturers:
Instructor manual
PowerPoint slides
List of contents
Part 1: Costs and Benefits of Monetary Union; 1 The Costs of a Common Currency; 2 The Theory of Optimum Currency Areas: A Critique; 3 The Benefits of a Common Currency; 4 Costs and Benefits Compared; 5 Optimal Currency Areas Case Studies: Is the Enlarged European Union an Optimal Currency Area? Is Latin America an Optimal Currency Area?; Part 2: Monetary Union; 6 Incomplete Moneary Unions: The European Monetary System, Dollarization; 7 The Transition to a Monetary Union: Problems of Transition in Central Europe, Problems of Transition of the UK; 8 The European Central Bank; 9 Monetary Policy in Euroland; 10 Fiscal Policies in Monetary Unions; 11 The Euro and Financial Markets
