What is it about?
This review article discusses every minute detail related to the "Theory of Optimum Currency Areas" and proceeds beyond the usual Cost-Benefit analysis. Researchers working on The Theory of Optimum Currency Areas will find it of immense help. The article also provides a concise integration timeline of the Eurozone economies towards the adoption of a common currency. Under the scope of Theory of OCA, the paper elaborates the inter-woven macro-economic mechanisms in the light of present prevailing structure of an economy. Have a nice reading. All the best.
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Why is it important?
It is very tough to understand how monetary integration affect macro-economic variables. This paper helps to understand them in a simple way. Besides, it explains all the up-to-date contributions towards the Theory of Optimum Currency Areas, as the title suggests. It also provides a chronological "intergration timeline" towards the formation of the Euro Currency Union.
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This page is a summary of: Theory of Optimum Currency Areas, Review of Market Integration, August 2015, SAGE Publications,
DOI: 10.1177/0974929216631381.
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