On the Political Economy of Monetary Integration: A Public Economics Approach

  • Koichi Hamada


One of the fundamental problems of international monetary relations is how and to what extent national economies should be incorporated into monetary unions. A main concern of the countries belonging to the European Community is the process of their monetary integration. For the world as a whole, the basic question is whether a subset of countries—or all the nations —should unite into a single currency area with fixed exchange rates or each nation should remain as an independent currency area with floating exchange rates.1


Exchange Rate Public Good Political Economy Monetary Policy Monetary Union 
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© Graduate School of Business, University of Chicago 1977

Authors and Affiliations

  • Koichi Hamada

There are no affiliations available

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