Real Exchange Rates and Optimum Currency Areas: Evidence from Developed Economies
In this paper, the authors link real exchange rates and optimum currency area criteria. The authors examine the hypothesis that countries not fulfilling optimum currency area criteria in full will tend to have volatile bilateral real exchange rate. The authors find that, based on a study of data from developed economies from the 1990s, optimum currency criteria (such as trade integration, asymmetry of shocks, openness) help explain bilateral real exchange-rate variation.
Volume (Year): 55 (2005)
Issue (Month): 5-6 (May)
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- Jarko Fidrmuc, 2004.
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- Jarko Fidrmuc, 2001. "The Endogeneity of the Optimum Currency Area Criteria, Intraindustry Trade, and EMU Enlargement," LICOS Discussion Papers 10601, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
- Lubos Komarek & Zdenek Cech & Roman Horvath, 2003. "Optimum Currency Area Indices - How Close is the Czech Republic to the Eurozone?," Working Papers 2003/10, Czech National Bank, Research Department.
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