Theories of Monetary Integration. Application to the European Union

• Autor(a) principal: Coimbra, Paulo
• Data de Publicação: 2001
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: https://doi.org/10.7559/gestaoedesenvolvimento.2001.73

The Economic and Monetary Union (EMU) and the existence of a single currency in the “Europe of the Twelve” have stopped from being a mirage to become a probable reality at a short-term period. In this sense, it is very important to know very well the issues related to the monetary integration. The present study develops two theoretical points of approach to the issue of the monetary integration. These two theoretical points do not contradict themselves. In addition, the Fleming-Cordon and Barro-Gordon methodologies are analysed and used in the approach to the reality of the European Union. One is going to find out if the EMU, constituted by the fifteen State-Members, will be a good monetary area as well as if the nominal convergence criteria, established by European Union Treaty, are necessary to the creation of an integrated monetary area.