Economics of Monetary Union

The tenth 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 exiting the eurozone, as well as presenting a discussion of the banking union, the current issues surrounding the TARGET2 payment system, and the role of the European Central Bank. In Part One the author examines the implications of adopting a common currency, assessing each country's benefit from being a member of the eurozone, 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.COSTS AND BENEFITS OF MONETARY UNION ; 1. The Costs of Common Currency ; 2. The Theory of Optimum Currency Areas: A Critique ; 3. The Benefits of a Common Currency ; 4. Costs and Benefits Compared ; MONETARY UNION ; 5. The Fragility of Incomplete Monetary Union ; 6. How to Complete a Monetary Union? ; 7. The Transition to a Monetary Union ; 8. The European Central Bank ; 9. Monetary Policy in the Eurozone ; 10. Fiscal Policies in Monetary Unions ; 11. The Euro and Financial Markets