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Optimal Pegs for Asian Currencies
Bénassy-Quéré, Agnès - Centre d'études prospectives et d'informations … - 1997
Persistent link: https://www.econbiz.de/10005243438
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Pegging the CEECs Currencies to the Euro
Bénassy-Quéré, Agnès; Lahrèche-Revil, Amina - Centre d'études prospectives et d'informations … - 1998
Persistent link: https://www.econbiz.de/10005243448
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Working Paper 162
Müller, Gernot J.; Enders, Zeno - Oesterreichische Nationalbank - 2010
In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely unchanged. We...
Persistent link: https://www.econbiz.de/10010727661
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Brussels on a single money
Mélitz, Jacques - In: Open Economies Review 2 (1991) 3, pp. 323-336
This review article discusses the recent document titled “One Market, One Money†in which the European Commission develops its case for European monetary union. After examining the monetary issues as such, the article focuses on the reasons for the Commission's very worried attitude...
Persistent link: https://www.econbiz.de/10005711917
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A suggested reformulation of the theory of optimal currency areas
Mélitz, Jacques - In: Open Economies Review 6 (1995) 3, pp. 281-298
In contrast to conventional analyses of monetary union between two particular countries or sets of countries, this paper treats the possible expansion of a given currency area as a continuous variable ranging from zero to one; zero if there is no expansion and one if all sources of imports and...
Persistent link: https://www.econbiz.de/10005809949
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A Modern Reconsideration of the Theory of Optimal Currency Areas
Corsetti, Giancarlo - Department of Economics, European University Institute - 2008
What can be learnt from revisiting the Optimal Currency Areas (OCA) theory 50 years from its birth, in light of recent … advances in open economy macro and monetary theory? This paper presents a stylized micro-founded model of the costs of adopting … exchange rates do not perform the stabilizing role envisioned by traditional OCA theory, a common monetary policy can be as …
Persistent link: https://www.econbiz.de/10005744259
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To be or not to be in the euro? Benefits and costs of monetary unification as perceived by voters in the Swedish euro referendum 2003
Jonung, Lars - Volkswirtschaftliche Fakultät, … - 2004
optimum currency area theory proves to be a constructive framework to predict voting behaviour across socio-economic groups … and costs across groups was a major determinant of their voting behavior. As predicted by theory, the Yes-vote was …
Persistent link: https://www.econbiz.de/10005621732
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The Theory of Optimum Currency Areas, Trade Adjustment and Trade
Melitz, Jacques - C.E.P.R. Discussion Papers - 1993
This paper seeks to integrate more closely the theory of optimum currency areas with the theory of international trade …
Persistent link: https://www.econbiz.de/10005656159
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Has the Euro changed the Business Cycle?
Enders, Zeno; Jung, Philip; Müller, Gernot J. - University of Bonn, Germany - 2009
In this paper we analyze European business cycles before and under EMU. Across the two periods we ?nd 1) a signi?cant decline in real exchange rate volatility, 2) signi?cant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely un- changed. We develop...
Persistent link: https://www.econbiz.de/10010735018
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Has the Euro changed the Business Cycle?
Enders, Zeno; Müller, Gernot J. - Oesterreichische Nationalbank - 2010
In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely unchanged. We...
Persistent link: https://www.econbiz.de/10008568444