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How Did European Institutional Integration and Intra-European Trade Interact?

Agur, Itai; Dorrucci, Ettore; Mongelli, Francesco Paolo - In: Economie Internationale (2007) 109, pp. 107-146

EMU has spurred an interest on the effects of monetary unions on regional economic integration. This paper investigates the link between intra-European trade growth and the institutional process of regional integration, of which monetary integration was one step. Special attention is paid to the...

Persistent link: https://www.econbiz.de/10005406504

The endogeneity approach of the theory of optimum currency areas: what does it mean for ASEAN + 3?

Löchel, Horst; Baumann, Stefan - 2006

The paper analyzes if and how the experiences of European integration can be used for the progress of East Asia integration especially of the ASEAN+3 countries1. Of special interest is the relevance of the new endogeneity approach of monetary integration for East Asia. The question is discussed...

Persistent link: https://www.econbiz.de/10010298914

The endogeneity approach of the theory of optimum currency areas : what does it mean for ASEAN + 3?

Löchel, Horst; Baumann, Stefan - 2006

Persistent link: https://www.econbiz.de/10003750291

The Eurozone : Piecemeal Approach to an Optimum Currency Area

Handler, Heinz - 2013

This paper discusses the literature which associates the economic characteristics of EMU with arguments of the optimum currency area (OCA) theory and asks for missing capstones that would meliorate EMU to eventually resemble an OCA. As potential candidates for such building blocks, some sort of...

Persistent link: https://www.econbiz.de/10013075363

A Centralized Monetary Union for Mercosur : Lessons from Emu

Fratianni, Michele U.; Hauskrecht, Andreas - 2014

The paper starts with the assumption that the Mercosur countries have decided to pursue monetary integration. These countries have essentially two options: a decentralized monetary union (MU) whereby each member country either pegs to the U.S. dollar or dollarizes outright; or a centralized MU...

Persistent link: https://www.econbiz.de/10014026460

OPTIMUM CURRENCY AREA INDICES : EVIDENCE FROM THE 1990s

Horváth, Roman; Komárek, Luboš - Department of Economics, University of Warwick - 2003

In this paper the authors calculate OCA-indexes for industrial countries in an effort to estimate the benefit-cost ratio of adopting a common currency. The results correspond to the estimation of Bayoumi and Eichengreen (1997b) and show that the ranking of the economies suitable to form a...

Persistent link: https://www.econbiz.de/10005178293

The endogeneity approach of the theory of optimum currency areas: what does it mean for ASEAN + 3?

Löchel, Horst; Baumann, Stefan - Frankfurt School of Finance and Management - 2006

Persistent link: https://www.econbiz.de/10005026947

Completing the monetary union of Europe as mid-term solution of the Euro crisis

Fischer, Justina A. V.; Pastore, Francesco - 2015

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …

Persistent link: https://www.econbiz.de/10011308548

Act for Currency Unions

Stark-Veltel, Gerd - 2018

When real wages in an economy no longer reflect productivity, normally devaluations of the currency restore international price-competitiveness via imported inflation that reduces real wages. This instrument is not available in a currency union. The job has to be done by reductions in nominal...

Persistent link: https://www.econbiz.de/10012928858

When, how fast and by how much do trade costs change in the euro area?

Herwartz, Helmut; Weber, Henning - 2008

Microfoundations of the euro's effect on euro area trade hinge on the timing, the speed and the size of adjustment in … at the sector level. We find that, due to falling trade costs, trade within the euro area increases between the years … 2000 and 2003 by 10 to 20 percent compared with trade between European countries that are not members of the euro area …

Persistent link: https://www.econbiz.de/10010298765