Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/209774 
Year of Publication: 
1999
Series/Report no.: 
Arbeidsnotat No. 1999/10
Publisher: 
Norges Bank, Oslo
Abstract: 
Several countries face the choice between targeting inflation independently or entering a monetary union that targets inflation. The present paper extends the theory of optimum currency areas to deal with this choice. In contrast to the conventional theory, countries are shown to form more of an optimum currency area the more asymmetric supply shocks are.
Subjects: 
monetary union
common currency
asymmetric shocks
output stability
JEL: 
E52
F33
F42
Persistent Identifier of the first edition: 
ISBN: 
82-7553-148-9
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper
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