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optimum currency area

The Optimum Currency Area  Is the Euro Zone an Optimum Currency Area?

The Optimum Currency Area Is the Euro Zone an Optimum Currency Area?

... an optimum currency area, we could appreciate that EU fulfils certain criteria established within the theory of the optimum currency ...sub-optimum currency area, ...

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Optimum currency area: an epistemological view

Optimum currency area: an epistemological view

... This paper aims to provide a critical analysis of the evolution of the optimum currency area theory. The motivation for this paper arises from the fact that there are many studies that make ...

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Optimum currency area indices: evidence from the 1990s

Optimum currency area indices: evidence from the 1990s

... The optimum currency area (OCA) theory arises from the debates about the exchange rate regimes and adjustment under balance of payments ...that optimum currency area can differ ...

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Is the East African Community an Optimum Currency Area?

Is the East African Community an Optimum Currency Area?

... an optimum currency area (OCA) by examining the synchronization of structural shocks of the member ...of optimum currency areas, whereby countries under a monetary union share a common ...

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PENERAPAN KRITERIA OPTIMUM CURRENCY AREA DAN VOLATILITASNYA: STUDI KASUS ASEAN-5 +3

PENERAPAN KRITERIA OPTIMUM CURRENCY AREA DAN VOLATILITASNYA: STUDI KASUS ASEAN-5 +3

... ASEAN5+3 tidak terlalu tinggi. Yang ada sebaliknya adalah guncangan simetris yang tinggi (Madhur, 2002). Pendeknya, dampak signifikan dan positif AS pada ERV menyarankan adanya sedikit perbedaan sekilas antara Singapura ...

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Empirical Results for Some Monetary Areas According to Optimum Currency Area Criteria

Empirical Results for Some Monetary Areas According to Optimum Currency Area Criteria

... In case of MERCOSUR we could barely fi nd a pair of countries with better values compare with euro area’s all-time average. It seems to be convenient for both Canada and Mexico to adopt a common currency with the ...

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Monetary Integration and Optimum Currency Area in ASEAN+3:  What we need for a new framework?

Monetary Integration and Optimum Currency Area in ASEAN+3: What we need for a new framework?

... on optimum currency area- the intensive for two economies to peg their bilateral exchange rate rise with the bilateral intensity of trade, flexibility of factor markets and symmetry of underlying ...

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IMPLEMENTATION OF OPTIMUM CURRENCY AREA CRITERIA AND ITS VOLATILITY: CASE STUDY ASEAN-5+3

IMPLEMENTATION OF OPTIMUM CURRENCY AREA CRITERIA AND ITS VOLATILITY: CASE STUDY ASEAN-5+3

... form optimum currency area (OCA), can be reduced in order justify the feasibility of the OCA idea within ASEAN5 plus ...challenging area to synchronize in the following ...form currency ...

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Is Mercosur an optimum currency area?

Is Mercosur an optimum currency area?

... (especially in the RDLT model). Such high persistence spans from 4.3 to 16 years and is shown in Figure 5. As can be seen, real exchange rate persistence is even higher in Mercosur than in the usual findings of the PPP ...

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Optimum currency area theory: an approach for thinking about monetary integration

Optimum currency area theory: an approach for thinking about monetary integration

... The optimum currency area (OCA) theory tries to answer an almost prohibitively difficult question: what is the optimal number of currencies to be used in one ...common currency for a pair of ...

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Is East Asia an optimum currency area?

Is East Asia an optimum currency area?

... This paper assesses the empirical desirability of the East Asian economies to an alternative exchange rate arrangement (a monetary union) that can potentially enhance the exchange rate stability and credibility in the ...

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Is the ESM able to manage the challenges of the euro area as a non optimum currency area currently being in a heavy crisis?

Is the ESM able to manage the challenges of the euro area as a non optimum currency area currently being in a heavy crisis?

... euro area with the not seriously taken assumption of the ‘no-bail-out‘ clause by the financial markets and the unique interest rate ...euro area (Sinn, 2012, ...

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Construction of an Optimum Currency Area Index Anchored to the Gold Dinar: The Case of Selected Islamic Countries

Construction of an Optimum Currency Area Index Anchored to the Gold Dinar: The Case of Selected Islamic Countries

... The OCA theory has long existed in a vacuum in terms of the analytical tools needed to operate its theory. Mundell, McKinoon, and Kenen did not create a quantitative index for OCA, however, after 35 years, Bayoumi and ...

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The endogeneity of optimum currency area criteria in the context of financial crisis: Evidence from the time frequency domain analysis

The endogeneity of optimum currency area criteria in the context of financial crisis: Evidence from the time frequency domain analysis

... analysis, multiple window method using Slepian sequences, time-frequency varying autoregressive process estimation and time-frequency Fourier transform representation) to identify cyclical move- ments in the Euro ...

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On the Feasibility of Monetary Union: Does It Make Sense to Look for Shocks Symmetry across Countries When None of the Countries Constitutes an Optimum Currency Area?

On the Feasibility of Monetary Union: Does It Make Sense to Look for Shocks Symmetry across Countries When None of the Countries Constitutes an Optimum Currency Area?

... averages that are presented in Table 4. 9 The inflation pre-targeting sample unequivocally shows that a monetary union is feasible only between Canada and the US. Canada and Mexico react asymmetrically to US monetary ...

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Investigation Of Economic Stability In Optimum Currency Area

Investigation Of Economic Stability In Optimum Currency Area

... euro area and non-euro area ...of Optimum Currency Areas (OCA) are usually biased by the underlying theoretical and policy orientation of their authors, they often provide a sort of ...

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A Microeconomic Foundation for Optimum Currency Areas: The Case for Perfect Capital Mobility and Immobile Labor Forces

A Microeconomic Foundation for Optimum Currency Areas: The Case for Perfect Capital Mobility and Immobile Labor Forces

... The second concerns the glut of foreign direct invest- ment. In reality, the volume and range of mobile real capital is large and wide. It is feared that the world as a whole may become a unique optimum ...

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Business Cycle Synchronization and Optimum Currency Areas: The Case of the Economic Community of West African States

Business Cycle Synchronization and Optimum Currency Areas: The Case of the Economic Community of West African States

... There is a paucity of literature on business cycles synchronisation on various sub-Saharan African (SSA) regional blocs, perhaps due to the fact that SSA is characterised by wide macroeconomic economic differentials ...

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CO-MOVEMENT 4 PERIOD ASEAN CURRENCY 1997-2005 A THEORY APPLICATION NAMELY OPTIMAL CURRENCY AREA USING VECTOR ERROR CORRECTION MODEL

CO-MOVEMENT 4 PERIOD ASEAN CURRENCY 1997-2005 A THEORY APPLICATION NAMELY OPTIMAL CURRENCY AREA USING VECTOR ERROR CORRECTION MODEL

... the Optimum Currency Area (OCA), this paper utilize the Vector Error Correction Model (VECM) to identify the dynamic short term and the long term co-movement between the ASEAN 4 currencies, including ...

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Optimal currency area and business cycle synchronization across U S  states

Optimal currency area and business cycle synchronization across U S states

... same currency but with asymmetric business cycles will incur costs associated with the monetary authority making decisions which benefit not all countries within the monetary ...The area of focus in this ...

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