01937nam a2200277 a 4500 1/51379 080128s2008 be u pdd 1 a0eng d 9789279082276 1016-8060 (print) 1725-3187 (online) KC-AI-08-302-EN-C 37271 GR-PeUP ΚΕΤ Αλφαβητική σειρά Mongelli, Francesco P. European economic and monetary integration and the optimum currency area theory / Francesco Paolo Mongelli. Brussels- Belgium: European Comission: Directorate-General for Economic and Financial Affairs, 2008. 58 σ.: διαγ. πιν. 30 εκ. European Economy. Economic papers ; This essay follows the synergies and complementarities between European Economic and Monetary Union (EMU) and the optimum currency area (OCA) theory. Various advancements in economic theory and econometrics have made it possible to progress from the "early OCA theory" to a "new OCA theory". The balance of judgements has shifted in favour of monetary union: it is deemed to generate fewer costs and there is more emphasis on benefits. The "endogeneity of OCA" has further strengthened this consideration. Yet there is still no simple OCA test. When EMU made the leap to the Maastricht Treaty, the OCA theory could not deliver clear policy guidance. Plans for EMU went ahead as a follow-up of the Single Market Programme (SMP) with only limited direct input from the OCA theory. Economic Papers European Commission : Directorate-General for Economic and Financial Affairs. Economic Papers February 2008, No 302. European Economy. Economic papers ; 302. INST UNIPILB KET 20090310 EEEP 302 EEEP 302 NOLOAN 23 1 http://ec.europa.eu/economy_finance/publications/publication_summary12083_en.htm