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Optimum currency areas and asymmetric shocks [PDF]

open access: possible, 2006
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.
openaire  

Exchange rate volatility and intervention: implications of the theory of optimum currency areas

Journal of International Economics, 1998
Barry Eichengreen, Tamim Bayoumi
exaly  

Is Europe an Optimum Currency Area?

1994
The 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.
openaire   +1 more source

The current impasse in research on optimum currency areas

European Economic Review, 1995
Jacques Mélitz
exaly  

Optimum currency area

Kaltenbrunner, A., Stockhammer, E.
openaire   +1 more source

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