Will be consistent the proposal for the creation of a monetary union in Mercosur?

Vol. 22 No. 2 (2002)

Apr-Jun / 2002
Published April 1, 2002
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Filho, Fernando Ferrari, and Luiz Fernando de Paula. 2002. “Will Be Consistent the Proposal for the Creation of a Monetary Union in Mercosur?”. Brazilian Journal of Political Economy 22 (2):374-83. https://doi.org/10.1590/0101-31572002-1007.
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Will be consistent the proposal for the creation of a monetary union in Mercosur?

Fernando Ferrari Filho
Professor titular do Departamento de Economia da Universidade Federal do Rio Grande do Sul.
Luiz Fernando de Paula
Professor Adjunto da Faculdade de Economia da Universidade do Estado do Rio de Janeiro.
Brazilian Journal of Political Economy, Vol. 22 No. 2 (2002), Apr-Jun / 2002, Pages 374-383

Abstract

This paper aims to discuss the proposal for monetary union in Mercosur in the light of the theory of Optimal Currency Area (OCA). It shows that there is no evidence that macroeconomic convergence can be reached in Mercosur, since the area only minimally achieved some basic criteria defined by the OCA literature.

JEL Classification: F2; F15; F45.


Keywords: Mercosur monetary union macroeconomics of monetary union

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