We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the OCA properties of the monetary union from an international business cycle perspective. It is derived from the relative importance of symmetric vs. asymmetric shocks that result...

This paper addresses sequential entry decisions in export markets. It focuses on externalities derived from previous export activity in countries close to those for which a potential entry decision is taken (geographical spillovers) and externalities derived from previous presence of other firms...

This paper presents empirical evidence about the relationship between market openness and markup distribution of manufacturing firms. The results point out that tougher competition associated to openness reduces marginal costs and prices, while it increases the average firm size. However, the...