Economics, Econometrics and Finance
8 years ago

Fixed exchange rates key to successful economic and monetary unions.

Palgrave Macmillan UK eBooks
Optimum Currency Area: Theories Re-examined
Peter Coffey

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An optimum currency area is a group of countries with linked currencies through fixed exchange rates, different from an economic and monetary union. Achieving an economic and monetary union is challenging due to the need for common economic, fiscal, and monetary policies, along with a shared currency.