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Optimum currency areas and asymmetric shocks [PDF]
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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Narratives of Optimum Currency Area Theory and Eurozone Governance
New Political Economy, 2014Holly Snaith
exaly
Exchange rate volatility and intervention: implications of the theory of optimum currency areas
Journal of International Economics, 1998Barry Eichengreen, Tamim Bayoumi
exaly
Is Europe an Optimum Currency Area?
1994The debate on EMU has been very influenced by the traditional theory of optimum currency areas (OCAs). The paper shows that this theory is not an ideal yardstick for an assessment of EMU. Its assumptions are not very realistic and its focus on asymmetric real shocks is much too narrow.
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The current impasse in research on optimum currency areas
European Economic Review, 1995Jacques Mélitz
exaly

