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The Optimum Currency Area. Is the Euro Zone an Optimum Currency Area? [PDF]
, 2011 Although analyzed in terms of criteria for defining an optimum currency area, we could appreciate that EU fulfils certain criteria established within the theory of the optimum currency area. But in comparison with USA or Canada, the EU has less premises to effectively become such an area. The Economic and Monetary Union considered, from a certain point
Geza, Paula, Giurca Vasilescu, Laura
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The Optimum Currency Area Puzzle
International Advances in Economic Research, 2013The theory of optimum currency areas, suggesting the redrawing of currency areas across countries or splitting of national money into several currencies, is at odds with the one-money-one-country pattern that has dominated monetary history for 26 centuries.
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1996
A single currency is more suitable for some areas of the world than for others. While there are always economic benefits from having a single currency, through savings on the transactions costs of currency exchanges, hedging, and so on, there can be offsetting costs if a single currency stands in the way of economic adjustments that may be initiated or
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A single currency is more suitable for some areas of the world than for others. While there are always economic benefits from having a single currency, through savings on the transactions costs of currency exchanges, hedging, and so on, there can be offsetting costs if a single currency stands in the way of economic adjustments that may be initiated or
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Is The Eastern Caribbean Currency Union an Optimum Currency Area?
The Journal of Developing Areas, 2014Throughout the turbulence in the international financial system, eastern Caribbean countries have enjoyed remarkable monetary and economic stability. This paper attempts to characterize the types of structural shocks in the Eastern Caribbean Currency Union (ECCU) and other countries in the region and compare them with other currency unions such as the ...
Xiaodan Zhao, Yoonbai Kim
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Is Europe an optimum currency area?
National Institute Economic Review, 1993Much of the debate on the desirability of a monetary union in Europe has focused on the question of whether Europe can be described as an optimum currency area (OCA). The European Commission in its report 'One money, one market' takes the view that this theoretical framework gives useful insights for the analysis of the economics of EMU and its ...
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Theory of Optimum Currency Areas
2007To clarify the economic rationale of a currency union we have to judge it from the point of view of markets and against the background of the market agents’ experiences with other currency systems. In case of national currencies which are bound together in a system of fixed exchange rates, governments face the risk of balance of payments imbalances ...
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Is the Eurozone an Optimum Currency Area?
International Journal of Economic Sciences, 2023The objective of this paper is to find out the past, the present and the future of the euro. The first part presents the euro as an edifying currency experiment. The second part analyses the economic performance of the euro area. The third part points out the internal conflicts inside the eurozone.
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Is Mercosur an optimum currency area? [PDF]
, 2007 We find that generalized purchasing power parity does not hold for Mercosur, and thus that the South American trade group does not constitute an optimum currency area. We also find that the role of the United States cannot be neglected in the region, and that high short run volatility of real exchange rates is accompanied by slow adjustment processes ...
Neves, J. Anchieta +2 more
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Optimum Currency Area: Theories Re-examined
1977Before undertaking this re-examination, two major considerations should be borne in mind. First, an optimum currency area is a different animal from an economic and monetary union. An optimum currency area comprises a group of countries whose currencies are linked together through fixed exchange rates. Optimum currency areas have consisted of countries
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Optimum currency areas and asymmetric shocks [PDF]
, 2006 Optimum currency areas and asymmetric shocks Comparison of two studies: • Krugman Paul (1993) "Lessons from Massachusetts for EMU" in Torres, F. & Giavazzi, F. (Editors) Adjustment and Growth in the European Monetary Union London: CEPR and Cambridge University Press.
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