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Table of Contents
The standard of value and the reversed liquidity trap
The unfulfilled promises in the financial system
The unfulfilled promises in trade and growth
The costs of stability
Missing financial globalization
The financial risks of monetary regimes
The currency origins of financial crises
The myth of the lender of last resort
The solution of crises and the aftermath
The counterfactuals
The conventional optimal currency area theory
Toward a redefinition of an optimal currency area.
The unfulfilled promises in the financial system
The unfulfilled promises in trade and growth
The costs of stability
Missing financial globalization
The financial risks of monetary regimes
The currency origins of financial crises
The myth of the lender of last resort
The solution of crises and the aftermath
The counterfactuals
The conventional optimal currency area theory
Toward a redefinition of an optimal currency area.