Fidrmuc, Jarko - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2001
This paper tests an endogeneity hypothesis of optimum currency area (OCA) criteria (Frankel and Rose, 1998) on a cross-section of OECD countries between 1990 and 1999. The findings indicate that convergence of business cycles relates to intra-industry trade, but has no direct relation between...