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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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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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Operationalising the theory of optimum currency areas
1984Recent years have seen a wave of empirical studies attempting to give empirical content to the theory of optimum currency areas as a way of marshalling evidence on the costs and benefits of EMU. This paper reviews this empirical literature, as a way of examining the success with which theory has been operationalized. We also report some new work on the
Bayoumi, Tamim, Eichengreen, Barry
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1987
An optimum currency area refers to the ‘optimum’ geographical domain having as a general means of payments either a single common currency or several currencies whose exchange values are immutably pegged to one another with unlimited convertibility for both current and capital transactions, but whose exchange rates fluctuate in unison against the rest ...
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An optimum currency area refers to the ‘optimum’ geographical domain having as a general means of payments either a single common currency or several currencies whose exchange values are immutably pegged to one another with unlimited convertibility for both current and capital transactions, but whose exchange rates fluctuate in unison against the rest ...
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A history of the theories on Optimum Currency Areas
The European Journal of the History of Economic Thought, 2014AbstractThe historical reconstructions of the theories of Optimum Currency Areas (OCA) are usually biased by the underlying theoretical and policy orientation of their authors, they often provide a sort of internalist explanation of advancement in economic theory (assuming that economic theory evolves for internal reasons defined by theorists in the ...
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Is China an optimum currency area?
Journal of Asian Economics, 2005Abstract This paper analyzes regional differences across Chinese regions, employing an optimum currency area framework. Empirically, we consider the cross-sectional correlation measure of Solnik and Roulet [Solnik, B., & Roulet, J. (2000). Dispersion as cross-sectional correlation.
Hans N.E. Byström +2 more
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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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Theory of Optimum Currency Areas
Review of Market Integration, 2015This article aims at providing an eclectic analysis of the theory of optimum currency areas (OCAs). Although the basic tenets of the theory were anticipated during the late 1940s and the 1950s, the theory was developed and maturated in three highly influential papers of Mundell (1961), McKinnon (1963) and Kenen (1969).
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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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A Stochastic Simulation Model of an Optimum Currency Area
Open Economies Review, 1998zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Beine, Michel, Docquier, Frédéric
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