Endogenitatea criteriilor teoriei zonei monetare optime
[The endogeneity of the optimum currency area criteria]
AbstractThis paper aims to review existing literature on the endogenous effects of monetary integration: whether sharing a single currency may set in motion forces bringing countries closer together. The first part is a review of significant paper in the vast literature on the endogeneity of optimum currency area theory that focuses on the main criteria that are subject of this hypothesis. The second part considers empirical literature on the effects of monetary integration on trade and business cycle synchronization based on evidences provided by the euro area experience. The main conclusion is that the hypothesis attracted a large number of studies and, although they provide heterogeneous results caused by using different methodologies, they all indicate a positive effect.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28470.
Date of creation: 25 Oct 2010
Date of revision:
optimum currency areas; endogeneity; business cycle correlation; Rose Effect;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-12 (All new papers)
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