Theoretical and Applied Economics
No. 2 / 2011 (555)
Costs of Adopting a Common European Currency. Analysis in Terms of the Optimum Currency Areas Theory
Bucharest Academy of Economic Studies
Abstract. This analysis presents a theoretical approach of the possible costs related to a national economy which desires to be part of a monetary union. The analysis is made in terms of the classical optimum currency areas theory, which represents the basis of the monetary union process. The objective of this theory was to make a monetary union possible. This theory shows that the countries can obtain net benefits as a result of having a common currency, thus being able to avoid the possible adjustment problems. As a matter of fact, its great merit is that it identified certain properties of the countries being part of a monetary union, these properties representing real alternative tools for losing the independence of the monetary policy.
Contents
Economics of Sustainable Development. Competitiveness and Economic Growth
The Particularities of the Economic Crisis in the Knowledge-Based Society
Adverse Selection Models with Three States of Nature
Sustaining an Effective ABC-ABM System
Consequences of the Budget Deficit in the Current Crisis in Romania. Implications on the Labor Market
Portfolio Risk Analysis using ARCH and GARCH Models in the Context of the Global Financial Crisis
Costs of Adopting a Common European Currency. Analysis in Terms of the Optimum Currency Areas Theory
The Effects of Economic Geography on Education in Romania
Statistical – Econometric Analysis of the Correlations between the Social Security Budget and the Main Macroeconomic Aggregates in Romania
Effects of the Current Economic Crisis on the Fiscal Variables in EU Countries
The Image of the Tourism Destination – a Supporting Element in the Development of the Regional Tourism Brand Study Case: Muntenia
Economic Crises and the Complexity of Animal Spirits Modeling
An Epistemological Perspective on the Quality of Life Concept
The Natural Rate of Unemployment and its Implications for Economic Policy
Estimation of Inflationary Expectations and the Effectiveness of Inflation Targeting Strategy
The Impact of Investments and Gross Value Added upon Earnings