In this paper we evaluate the mean-variance hypothesis (MVH) in the case of the domestic portfolios of seven Canadians banks. Following previous studies by Parkin, Gray, Barrett and Courakis we test a particular version of the MVH by restricting the objective function of the banks (presented as...

This paper surveys the recent literature on optimal currency areas (OCAs). Topics that are covered include theoretical developments in the context of general-equilibrium models and empirical work on shocks asymmetry and adjustment mechanisms. Issues relating to the endogeneity of OCA criteria,...