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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.
Horvath, Julius
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Optimum currency areas: EU case [PDF]

Megatrend Revija, 2014
The interest for optimum currency area theory (OCA), comes from the experience of European monetary union (EMU), development of academic thought, progress in economic theory and econometrics in sense of revaluation of national monetary and fiscal ...
Petković Vladislav
doaj   +3 more sources

An Optimum-Currency-Area Odyssey [PDF]

Journal of International Money and Finance, 2009
The theory of optimum-currency-areas was conceived and developed in three highly influential papers, written by Mundell (1961), McKinnon (1963) and Kenen (1969).
George S.Tavlas, Harris Dellas
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Optimum currency areas: a policy view

PSL Quarterly Review, 2012
Since the mid-1990s new developments in the theory of optimum currency areas have set forth an equilibrium approach that, in contrast with the traditional view stemming from Robert Mundell's seminal paper, considers the optimality criteria as the ...
Filippo Cesarano
doaj   +4 more sources

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
doaj   +4 more sources

Optimum filtering for optimum currency areas criteria [PDF]

Economics Bulletin, 2007
This study aims to analyze Turkey and the Economic and Monetary Union (EMU) countries in the light of criteria suggested by the optimum currency areas (OCA) theory and to compare the criteria obtained by an application of Hodrick-Prescott (H-P) and ...
Ibrahim Ozkan, Itir Ozer
core   +2 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
doaj   +2 more sources

Costs of Adopting a Common European Currency. Analysis in Terms of the Optimum Currency Areas Theory [PDF]

Theoretical and Applied Economics, 2011
This analysis presents a theoretical approach of the possible costs related to a national economy which desires to be part of a monetary union. The analysis is made in terms of the classical optimum currency areas theory, which represents the basis of ...
Aura Gabriela SOCOL
doaj   +2 more sources

Unilateral currency union with a high-income area: the case of Montenegro [PDF]

The European Journal of Comparative Economics, 2022
Unilateral euroization by developing economies is underexplored even in comparison to unilateral dollarization (taken to mean the adoption of the US dollar as legal tender). This paper attempts to help fill this gap in the literature by investigating the
Arslan Razmi
doaj   +1 more source

Self-Validating Optimum Currency Areas [PDF]

SSRN Electronic Journal, 2002
A currency area can be a self-validating optimal policy regime, even when monetary unification does not foster real economic integration and intra-industry trade. In our model, firms choose the optimal degree of exchange rate pass-through to export prices while accounting for expected monetary policies, and monetary authorities choose optimal policy ...
Corsetti, Giancarlo, Pesenti, Paolo
openaire   +4 more sources