Regional Monetary Integration

Peter B. Kenen is Senior Fellow in International Economics at the Council on Foreign Relations and Walker Professor of Economics and Finance, Emeritus, at Princeton University. Professor Kenen's publications include The International Economy (2000, Cambridge University Press), Economic and Monetary Union in Europe (1995, Cambridge University Press), The International Financial Architecture, and International Economic and Financial Integration. He was a member of President Kennedy's Task Force on Foreign Economic Policy and the Economic Advisory Panel of the Federal Reserve Bank of New York. Professor Kenen has served as consultant to the Council of Economic Advisers, the Office of Management and Budget, the Federal Reserve, the US Treasury, and the International Monetary Fund. Ellen E. Meade is Associate Professor in the Department of Economics at American University. She was Guest Scholar at The Brookings Institution (2004-5), Senior Research Fellow at London School of Economics (2001-4), Senior Economist for the Council of Economic Advisors (1994–5), and Senior Economist, Federal Reserve Board of Governors (1984-99). Professor Meade has published in the Journal of Economic Perspectives and the Journal of Economic Literature, among others, and has taught economics courses in the central banks of Syria and Bosnia/Herzegovina.

1. Introduction; 2. The forms, costs, and benefits of currency consolidation; 3. The European Monetary Union; 4. Monetary arrangements and economic performance; 5. Monetary union in the Americas?; 6. Monetary integration in East Asia; 7. The outlook and implications for the United States.