Lee, Kang-Soek; Saucier, Philippe - In: European Journal of Comparative Economics 8 (2011) 1, pp. 77-96
Based on optimal currency area theories, this paper applies the empirical methodology of structural VAR to revisit the question of whether UK should join or not the Euro zone. Correlations of effective exchange rates between UK and US on one side and between UK and its major European partners...