Issues of regional currency integration and the possible emergence of a single world currency in the future are to be discussed at an IMF Economic Forum on November 8. The participants in the panel will be Robert Mundell, the Nobel laureate and professor of economics at Columbia University in New York; Maurice Obstfeld, professor of economics at the University of California, Berkeley; and Paul Masson, a Senior Advisor in the IMF Research Department. The moderator will be Alexander Swoboda, Senior Policy Advisor in the Research Department.
Among the issues to be addressed at the forum are current trends in the dollar and euro blocs, as well as the possible emergence of a yen bloc out of current proposals for Asian monetary cooperation and of a currency union among MERCOSUR members in Latin America. These developments lead inevitably to the question of whether the benefits of such economies of scale would then be maximized through the introduction of a single currency for the world.
The proceedings of the forum will be covered in a forthcoming issue of the IMF Survey.