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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.
Filippo Cesarano
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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 Baxter-King (B-K) filters.
Itir Ozer, Ibrahim Ozkan
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The ?New? Theory of Optimum Currency Areas
World Economy, 1993Highbrow opinion is like a hunted hare; if you stand long enough it will come back to the place it started from. Dennis Robertson
George S Tavlas
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The Endogenity of the Optimum Currency Area Criteria [PDF]
The Economic Journal, 1998 A country' suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other countries.
Frankel, Jeffrey A, Rose, Andrew K
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The Theory of Optimum Currency Areas
Canadian Journal of Economics, 1970Herbert G Grübel
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Optimum Currency Areas and Key Currencies
2002Forty years after Robert Mundell put forth his celebrated theory of optimum currency areas, the analytical consensus based on his celebrated 1961 paper has disintegrated. Part of the problem stems from a seeming contradiction in Robert Mundell’s own work.
Ronald McKinnon, Peter B. Kenen
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To be or not to be: An optimum currency area for South Asia?
Journal of Policy Modeling, 2013This paper empirically investigates whether South Asian countries constitute an optimum currency area (OCA) by applying a structural vector auto-regression (SVAR) model to trace global, regional, and domestic shocks. Variance decomposition shows that domestic shocks dominate regional and global shocks, which contrasts with our findings for the European
Krishna Regmi +2 more
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A New Optimum Currency Area Index for the Euro Area
SSRN Electronic Journal, 2022We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the OCA properties of the monetary union from an international business cycle perspective. It is derived from the relative importance of symmetric vs.
Kunovac, Davor +2 more
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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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