The Economics of Monetary Integration

Is there a strong economic case for a nation to have separate currencies? Does a nation increase its welfare by abolishing its currency and adopting that of a wider area? Should that area be the European Community, all of Europe, or the whole world? This volume on monetary integration addresses these questions through an exploration of the economic costs and benefits of such a union in Europe. It includes an analysis of the European Monetary System and scrutinizes issues related to the transition to a full monetary system.