Monetary Unions: Theory, History, Public Choice (Routledge International Studies in Money and Banking)

The Economic and Monetary Union (EMU) in which some members of the European Union have joined, has prompted much discussion of monetary union. Most of this discussion has focused on the immediate issues, such as prospects for the Euro and the possibility of expanding the Euro-zone. This book stands back and considers the relevant theory or what lessons might be drawn from other unions that have been formed in the past as well as looking at EMU directly. Introduction / Forrest H. Capie And Geoffrey E. Wood -- Theoretical Issues Pertaining To Monetary Unions / Bennet T. Mccallum ; Comments By Peter Sinclair, Geoffrey E. Wood -- The Future Of Emu: What Does The History Of Monetary Unions Tell Us? / Michael D. Bordo And Lars Jonung ; Comments By Tim Congdon, Charles Goodhart -- How Long Did It Take The United States To Become An Optimal Currency Area? / Hugh Rockoff ; Comments By Ronald Mckinnon, Anna J. Schwartz -- The Bank, The States, And The Market: An Austro-hungarian Tale For Euroland, 1867-1914 / Marc Flandreau ; Comments By Luca Einaudi -- The Future Of The Euro: A Public Choice Perspective / Roland Vaubel ; Comments By Fabrizio Zampolli, Mark Salmon. Edited By Forrest H. Capie And Geoffrey E. Wood. Papers Presented At A Conference Held At City University, London, In May 1999. Includes Bibliographical References And Index. Book Cover......Page 1 Title......Page 4 Contents......Page 5 List of figures......Page 8 List of tables......Page 9 List of contributors......Page 10 Acknowledgements......Page 11 Introduction......Page 12 Theoretical issues pertaining to monetary unions......Page 18 Comments by......Page 37 The future of EMU: what does the history of monetary unions tell us?......Page 53 Comments by......Page 81 How long did it take the United States to become an optimal currency area?......Page 87 Comments by......Page 115 The bank, the states, and the market: an Austro-Hungarian tale for Euroland, 1867 1914......Page 122 Comments by......Page 153 The future of the euro: a public choice perspective......Page 157 Comments by......Page 193 Index......Page 205 This book comprises the papers presented at a conference on monetary unions held at City University, London, in May 1999, along with the comments on them by their discussants at the conference.