Gathering together the papers presented at the Madrid Conference on Optimum Currency Areas in 1970 this volume represents one of the first complete surveys of the theory and policy implication of monetary integration. The book discusses: the economics of fixed exchange rates relevant to monetary relations within an integrated monetary areathe evolution of economic doctrine and a survey of optimum currency area theoryproblems of policy co-ordination within a currency arearelevance of the monetary-fiscal policy mixproblems of monetary union in developing countriesthe book predicted the establishment of an European currency but presented the case for greater flexibility of exchange rates as an alternative to currency unification.
