David Beckworth: The Big Lesson of the Eurozone Crisis: “Paul Krugman notes that Eurozone crisis is a vindication of that optimum currency area (OCA) theory… The crisis also sheds light on the specialization versus endogeneity debate…. The endogenous view of the OCA criteria fed right into what Lars Christensen calls the fatal conceit of Eurozone planners. It … Continue reading Must-Read: David Beckworth: The Big Lesson of the Eurozone Crisis