Rethinking Optimum Currency Area Theory
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Author | : José Garcia |
Publisher | : |
Total Pages | : 29 |
Release | : 2018 |
Genre | : |
ISBN | : |
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This work aims to assess whether the hypothesis of endogenous synchronisation of shocks is verified in the European Economic and Monetary Union (EMU). A state-space model, which yields time-varying coefficients, is estimated with structural demand and supply shocks to several European economies and those of Germany. The goals is to obtain dynamic measures of correlation, which can help understand to what extent have structural shocks to European economies become more or less synchronised with Germany's throughout the EMU experience. Evidence shows that demand shocks have become increasingly synchronised, which corroborates the hypothesis of endogeneity. However, this phenomenon does not seem to be restricted only to EMU members. Furthermore, results prove that this increasing synchronisation occurred mainly in peripheral countries. For supply shocks conclusions are not as clear. Nevertheless, results do seem to point to the fact the countries outside the EMU have not become more structurally similar to Germany.
Author | : |
Publisher | : |
Total Pages | : 38 |
Release | : 2003 |
Genre | : |
ISBN | : 9789516869288 |
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Author | : Julius Horváth |
Publisher | : |
Total Pages | : 38 |
Release | : 2003 |
Genre | : Foreign exchange |
ISBN | : 9789516868786 |
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Tiivistelmä.
Author | : Julius Horvath |
Publisher | : |
Total Pages | : 38 |
Release | : 2003 |
Genre | : |
ISBN | : 9789516868793 |
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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. The second part considers empirical literature on the types of geographical areas that might constitute optimum currency areas, particularly with respect to asymmetry and symmetry of shocks.
Author | : Sofia Roth |
Publisher | : GRIN Verlag |
Total Pages | : 28 |
Release | : 2018-06-04 |
Genre | : Business & Economics |
ISBN | : 3668717052 |
Download Optimum currency area. Is a fixed exchange rate regime more suitable than a flexible one? Book in PDF, Epub and Kindle
Seminar paper from the year 2011 in the subject Economics - Macro-economics, general, , language: English, abstract: This term paper outlines the theory of Optimum Currency Area (OCA), also known as an Optimal Currency Region (OCR). It also deals with the question under which conditions it is more suitable to have a fixed exchange rate regime or a flexible exchange rates regime in an OCA. The theory of OCA was developed in the early 1960s and deals with mixed, complicated issues of international macroeconomics and "emerged from the debate on the advantages and disadvantages of fixed versus flexible exchange rate regimes". Moreover the theory "attempts to answer the question under which circumstances it is beneficiary for a country or region to constitute a common currency area with other countries or region". This question was analyzed and contributed by the pioneered work of Mundell (1961). Other contributors at the beginning of this theory were McKinnon (1962) and Kenen (1969). Their cognition were based on founding’s by Friedman (1953) and Meade (1957).
Author | : Joshua Aizenman |
Publisher | : |
Total Pages | : 16 |
Release | : 1992 |
Genre | : |
ISBN | : |
Download A Theory of Optimum Currency Areas: Revisited Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 2012 |
Genre | : |
ISBN | : |
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Author | : Philip B. Whyman |
Publisher | : Routledge |
Total Pages | : 165 |
Release | : 2018-01-17 |
Genre | : Business & Economics |
ISBN | : 1315471876 |
Download Rethinking Economic and Monetary Union in Europe Book in PDF, Epub and Kindle
In the wake of the Greek crisis, the future of the EU is the subject of a great deal of debate. This book critically evaluates the current new monetarist model of Economic and Monetary Union in Europe, presenting an alternative post-Keynesian (progressive) model, aimed at addressing the current problems of trade imbalance and asymmetric macroeconomic policy infrastructure that are augmenting tensions within the Eurozone. The book’s approach is based upon the development of a common, rather than a single, currency approach, and utilises post-Keynesian policy solutions in order to create a form of EMU which will promote full employment rather than austerity.
Author | : Roman Horvath |
Publisher | : |
Total Pages | : 30 |
Release | : 2002 |
Genre | : Economics |
ISBN | : |
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Author | : Ferdinand Fichtner |
Publisher | : |
Total Pages | : 217 |
Release | : 2008 |
Genre | : Optimales Währungsgebiet - Währungsunion - Wohlfahrtseffekt - Offene Volkswirtschaft - Neue Makroökonomie - Stochastisches Modell |
ISBN | : 9783832278069 |
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