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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- Tamim Bayoumi and Barry Eichengreen., 1996.
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- James H. Stock & Motohiro Yogo, 2002. "Testing for Weak Instruments in Linear IV Regression," NBER Technical Working Papers 0284, National Bureau of Economic Research, Inc.
- 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.
- repec:cup:cbooks:9780521440196 is not listed on IDEAS
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