Results 11 to 20 of about 61,730 (300)

An optimum-currency-area odyssey [PDF]

Journal of International Money and Finance, 2009
Abstract The theory of optimum-currency-areas was conceived and developed in three highly influential papers, written by Mundell, 1961 , McKinnon, 1963 and Kenen (1969) . Those authors identified characteristics that potential members of a monetary union should ideally possess in order to make it feasible to surrender a nationally-tailored ...
Harris Dellas, George S.Tavlas
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The theory of an ‘optimum currency area’ [PDF]

Wroclaw Review of Law, Administration and Economics, 2012
The main goal of this paper is to analyse and distinguish the main components of the theory of an ‘Optimum Currency Area’. T he theory of an optimum currency area indicates some essential elements as preconditions for the successful introduction of a common currency: high mobility of labour, openness of the economy defined as a high proportion of ...
Kundera Jarosław
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The Endogenity of the Optimum Currency Area Criteria [PDF]

The Economic Journal, 1998
A country' suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other countries.
Frankel, Jeffrey A, Rose, Andrew K
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Optimum Currency Area Theory: A Selective Review [PDF]

SSRN Electronic Journal, 2003
The first part of this paper is a review of significant papers in the vast literature on optimum currency area (OCA) theory. The author focuses on the main classical contributions, then considers modern treatment of OCA theory. The second part considers empirical literature on the types of geographical areas that might constitute optimum currency areas,
Horvath, Julius
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EMU – “Optimum” or “Viable” Currency Area?

Studies and Scientific Researches: Economics Edition, 2012
Although the increasing heterogeneity as an effect of European Union enlargement, referring especially to the last two waves, is perceived as a single internal market and also euro single currency risk, European Monetary Union represents an important ...
Andreea Bucur
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Is East Asia an optimum currency area? [PDF]

Economic Modelling, 2012
Abstract This paper assesses the empirical desirability of the East Asian economies to an alternative exchange rate arrangement (a monetary union) that can potentially enhance the exchange rate stability and credibility in the region. Specifically, the symmetry in macroeconomic disturbances of the East Asian economies is examined as satisfying one of
Lee, Grace HY, M, Azali
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A Model of an Optimum Currency Area [PDF]

SSRN Electronic Journal, 1997
AbstractThis paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of real and monetary shocks, international factor ...
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The equilibrium approach to optimum currency areas

PSL Quarterly Review, 2012
This paper contrasts the received view of optimum currency areas with the modern equilibrium approach. Setting Mundell's work against earlier analyses of monetary unions exposes the peculiarities of his theory, embedded in the static Keynesian paradigm.
Filippo Cesarano
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Evaluating BRICS as an optimum currency area: insights from SVAR modeling

Cogent Economics & Finance
The study evaluates the feasibility of BRICS (Brazil, Russia, India, China, and South Africa) countries to form an Optimum Currency Area (OCA) through the analysis of shock correlation within the OCA framework.
Marida Nach, Ronney Ncwadi
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European Monetary Union. Convergences and Divergences in an Optimum Currency Area [PDF]

Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics, 2020
Theory stated that a country should adhere to a monetary area if that country has about the same development level as member states. Otherwise, less developed countries will bear more pronouncedly the effects of asymmetric shocks that may occur in an ...
Mihaela NECULITA, Adrian MICU
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