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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 optimum currency area theory and the EMU [PDF]
Intereconomics, 2013 The eurozone crisis has revealed certain shortcomings of the EMU, such as its vulnerability to asymmetric shocks and its inability to act as predicted by the theory of optimum currency areas. Although the share of intra-EU trade has increased since the introduction of the euro, dissimilarities in economic structure combined with high degrees of ...
Kurt Hafner
exaly +3 more sources
RECENT APPROACHES IN THE OPTIMUM CURRENCY AREAS THEORY [PDF]
Challenges of the Knowledge Society, 2011 This study is dealing with the endogenous characteristic of the OCA criteria, starting from the idea that a higherconformity of the business cycles will result in a better timing of the economic cycles and, thus, in getting closerto the quality of an ...
AURA SOCOL, CRISTIAN SOCOL
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Exchange rate volatility and intervention: implications of the theory of optimum currency areas [PDF]
Journal of International Economics, 1998 We show that variables pointed to by the theory of optimum currency areas (OCAs) help to explain patterns of exchange rate variability and intervention across countries. But OCA considerations affect exchange market pressures and intervention in different ways.
Barry Eichengreen, Tamim Bayoumi
exaly +3 more sources
16 YEARS OF THE EURO AREA – INCREASE OF GDP AND PAYMENT BALANCE (PRELIMINARY DATA ANALYSIS) [PDF]
Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej, 2016 The paper makes an attempt at description of the impact of monetary integration on the most important macroeconomic indicators of the Euro area against the background of those countries which retained their national currency.
Jan Ostoj
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Choice of an Exchange Rate Regime: the Role of Optimum Currency Area Theory
Competitio, 2021 This lecture deals with the problem of the choice of exchange rate regime for fiat and fully convertible currencies. We begin with a review of different types of exchange rate regimes and discuss the difference between de jure and de facto regimes.
Julius Horvath
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A Theory of Optimum Currency Areas: Revisited [PDF]
IMF Working Papers, 1992 Starting with Friedman and Mundell the academic literature has conducted a high level debate concerning the design of cross-country monetary arrangements. That debate has become very complex and the data requirements necessary for appropriate application of the principles developed are far beyond the means of the very nations for which the principles ...
Robert P Flood, Joshua Aizenman
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The euro area ten years after its creation: (Divergent) competitiveness and the optimum currency area theory [PDF]
Panoeconomicus, 2011 As the euro is on its second decade, the European sovereign debt crisis and the ever more evident disparities in competitiveness among member states are prompting many to question whether monetary union is bringing more benefits than costs.
Rebelo João Barbosa, Alves Henrique Rui
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Buletin Ekonomi Moneter dan Perbankan, 2013 The idea for regional monetary integration is grounded by the process of convergence theory within the member states. The paper analyses the possibility of monetary union in ASEAN-5 countries, Indonesia, Malaysia, Philippines, Thailand, and Singapore. In
Dimas Bagus Wiranata Kusuma +3 more
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How Much Can the Monetary Policies of Small Open Economies Neighbouring the Eurozone Be Independent? [PDF]
European Journal of Interdisciplinary Studies, 2022 This paper examines the argument that a small open economy with goods and service markets integrated into a major currency block has decreased autonomy over its monetary policy.
Ondřej BEDNÁŘ, Božena KADEŘÁBKOVÁ
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