The Failure of OCA Analysis

Tags: Money and Banking, Money and Banks

07/30/2014 Quarterly Journal of Austrian Economics Bogdan Glăvan

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Volume 7, No. 2 (Summer 2004)

In this paper the theory of optimum currency areas (OCA) is presented, and then I will attempt to prove:

1. The OCA theory is nonoperational and irrelevant in dealing with the present international monetary situation.
2. The basic postulates of OCA theory are internally inconsistent and incompatible with economic theory.

CITE THIS ARTICLE

Glăvan, Bogdan. “The Failure of OCA Analysis.” The Quarterly Journal of Austrian Economics 7, No. 2 (Summer 2004): 29–46.

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