Abstract

DE LOMBAERDE, Philippe. SUSTITUCIÓN DE MONEDA Y TEORÍA DE LAS ÁREAS MONETARIAS ÓPTIMAS: UN COMENTARIO . Cuad. Econ. [online]. 2002, vol.21, n.36, pp.189-244. ISSN 0121-4772.

The author shows the usefulness of optimum currency area theory for the evaluation of the conditions to dolarize the Colombian economy or to form a regional monetary union the comment is organized around six points: i} the micro-economic effects of exchange rate regimes; ii} interdependence; iii} fiscal federalism in monetary unions; iv} the size of the economies; v} the problem of speculation in international financial markets; and vi} methodological and empirical aspects.

Keywords : Currency substitution; dollarization; monetary integration; optimal monetary zones; Andean Cornmunity of Nations.

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