WP 2015/08 (June) Alternative Interpretation of a Stateless Currency Crisis Sergio Cesaratto University of Siena Copyright © The author(s), 2015. The Italian Association for the Study of Economic Asymmetries (a/simmetrie) was established in 2013 as an independent, nonprofit think-tank based in Rome (Italy). a/simmetrie undertakes applied research and policy analysis on economic asymmetries, both in their economic nature, and in their political and juridical implications; provides a forum for the advocacy of policies leading to a more equitable and sustainable growth; and promotes the public debate in the field of economic policy-making, by involving researchers, politicians, and other relevant stakeholders. The a/simmetrie working paper series publishes outputs from a/simmetrie research in progress, as well as papers presented at a/simmetrie conferences and seminars, and contributions from visiting fellows. Comments are welcome. Unless otherwise indicated, the views expressed in this publication are those of the author(s). Publication does not imply endorsement by a/simmetrie. Italian Association for the Study of Economic Asymmetries via Filippo Marchetti 19, I-00199 Roma, Italy www.asimmetrie.org
[email protected] www.asimmetrie.org Sergio Cesaratto – Alternative Interpretations of a Stateless Currency Crisis a/working papers 2015/08 Alternative Interpretations of a Stateless Currency crisis Sergio CESARATTO Department of Political Economy - University of Siena P.zza S.Francesco, 7-8, 53100 Siena (Italia) –
[email protected] Abstract A number of economists holding Keynesian or pragmatic monetarist views warned that political union was a necessary premise for a viable monetary union. Inspired by Goodhart, we name this the Cartalist view.