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Does the European Monetary Union constitute a region in Mundell´s sense, in the light of rail transportation prices
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This thesis studies the role of rail in the European Monetary Union.
It considers the history of rail, the theoretical contributions of
Mundell regarding Optimal Currency Areas and regions, and of von
Thünen (“the Isolated State”). Key variables are analysed and an
econometric fixed effects regression analysis (10 countries; 2002-
2021; 2 subsamples) is conducted. Average prices (per passenger kilometre and ton-kilometre) are the dependent variables. The main
findings are: The European Monetary Union is not yet a region in
Mundell’s sense (centre more than periphery) but evolving towards
one. Rail is a crucial contributor for connecting European countries
and markets.
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Rail Freight Passengers European Monetary Union Transportation Green economy Efficiency Competition Sustainability Space economics Optimal currency area Region