Trade and the Number of OCAs in the World
AbstractThis paper employs worldwide data on output and bilateral trade in order to identify optimum currency areas (OCAs) on a global basis. By retaining only two of the many criteria in the literature on OCAs, computer programming could serve to do the identification. The two chosen criteria relate to trade and the symmetry of shocks to output. Based on the first criterion, trade, some large continental OCAs emerge. Adding the second, symmetry, whittles down the size of these OCAs considerably. Nevertheless, some significant examples remain in the Americas, Europe and Asia, of which the European and the Asiatic are the most noteworthy. Copyright Kluwer Academic Publishers 1998
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal Open Economies Review.
Volume (Year): 9 (1998)
Issue (Month): 1 (January)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100323
optimal currency areas; trade; business cycles;
Other versions of this item:
- F10 - International Economics - - Trade - - - General
- F15 - International Economics - - Trade - - - Economic Integration
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Honohan, Patrick, 1997.
"Miniblocs and Fringe Currencies of the EMU,"
CEPR Discussion Papers
1704, C.E.P.R. Discussion Papers.
- Artis, Michael J & Zhang, Wenda, 1995.
"International Business Cycles and the ERM: Is there a European Business Cycle?,"
CEPR Discussion Papers
1191, C.E.P.R. Discussion Papers.
- Artis, Michael J & Zhang, W, 1997. "International Business Cycles and the ERM: Is There a European Business Cycle?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 2(1), pages 1-16, January.
- Frankel, Jeffrey A. & Rose, Andrew K., 1997. "Is EMU more justifiable ex post than ex ante?," European Economic Review, Elsevier, vol. 41(3-5), pages 753-760, April.
- A. Bénassy-Quéré, 1997.
"Optimal pegs for asian currencies,"
THEMA Working Papers
97-07, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Hess, Gregory D & Shin, Kwanho, 1997. "International and Intranational Business Cycles," Oxford Review of Economic Policy, Oxford University Press, vol. 13(3), pages 93-109, Autumn.
- Artis, Michael J & Zhang, Wenda, 1997. "On Identifying the Core of EMU: An Exploration of Some Empirical Criteria," CEPR Discussion Papers 1689, C.E.P.R. Discussion Papers.
- Eichengreen, Barry & Bayoumi, Tamim, 1996.
"Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries,"
Department of Economics, Working Paper Series
qt5th597st, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Eichengreen, Barry & Bayoumi, Tamim, 1996. "Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries," Center for International and Development Economics Research, Working Paper Series qt5dt9501s, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Tamim Bayoumi and Barry Eichengreen., 1996. "Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries," Center for International and Development Economics Research (CIDER) Working Papers C96-078, University of California at Berkeley.
- Wei, S.J. & Frankel, J.A., 1992.
"Yen Bloc or Dollar Bloc: Exchange Rate Policies of the East Asian Economies,"
92-08, University of Birmingham - International Financial Group.
- Jeffrey A. Frankel & Shang-Jin Wei, 1994. "Yen Bloc or Dollar Bloc? Exchange Rate Policies of the East Asian Economies," NBER Chapters, in: Macroeconomic Linkage: Savings, Exchange Rates, and Capital Flows, NBER-EASE Volume 3, pages 295-333 National Bureau of Economic Research, Inc.
- Jeffrey A. Frankel & Shang-Jin Wei, 1992. "Yen bloc or dollar bloc: exchange rate policies of the East Asian economies," Pacific Basin Working Paper Series 93-01, Federal Reserve Bank of San Francisco.
- Casimir Dadak, 2011. "Political Economy of the Euro Area Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(5), pages 593-604, December.
- Shu-ki Tsang, 2002. "Optimum Currency Area for Mainland HCina and Hong Kong? Empirical Tests," Working Papers 162002, Hong Kong Institute for Monetary Research.
- Julius Horvath, 2004.
"Optimum currency area theory: A selective review,"
- Banik, Nilanjan & Biswas, Basudeb & Criddle, Keith R., 2009. "Optimum currency area in South Asia: A state space approach," International Review of Economics & Finance, Elsevier, vol. 18(3), pages 502-510, June.
- Joan Costa-Font & Montserrat Font-Vilalta, 2006. "A note on the feasibility of a monetary area in the East Asia," Asia Europe Journal, Springer, vol. 4(1), pages 53-58, April.
- Dumitru, Ionut, 2009.
"Adoptarea euro in Romania
[Euro adoption in Romania]," MPRA Paper 18612, University Library of Munich, Germany.
- Kohler, Marion, 2004. "Competing coalitions in international monetary policy games," HWWA Discussion Papers 258, Hamburg Institute of International Economics (HWWA).
- Michele Fratianni & Dominick Salvatore & Paolo Savona, 1998. "Ideas for the Future of the International Monetary System: Conclusions and Remarks," Open Economies Review, Springer, vol. 9(1), pages 689-700, January.
- Schor, Armand-Denis, 2000. "La théorie des zones monétaires optimales : l’optimum, le praticable, le crédible et le réel," L'Actualité Economique, Société Canadienne de Science Economique, vol. 76(4), pages 545-576, dÃ©cembre.
- Kearney, Colm, 1999. "The Asian Financial Crisis," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 1999(1-Februar), pages 29-55.
- Dominick Salvatore, 1998. "International Monetary and Financial Arrangements: Present and Future," Open Economies Review, Springer, vol. 9(1), pages 375-416, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.