Capital Market Imperfections and the Theory of Optimum Currency Areas

Pierre-Richard Agenor, Joshua Aizenman

NBER Working Paper No. 14088
Issued in June 2008

---- Acknowledgements -----

We are grateful to Martin Bohl, Pierre Siklos, and other participants at the conference on The First Decade of European Monetary Union, held in Munster, Germany, May 28-29, 2008, for their useful comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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