Optimum Currency Area in Europe: An Alternative Evaluation

• المؤلفون الرئيسيون: KIM, Yoonbai, CHOW, Hwee Kwan
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2003
• الموضوعات: Optimum currency area; Alternative index; Regional shocks vs. Country-specific shocks; EMU participation; Macroeconomics
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soe_research/180; https://ink.library.smu.edu.sg/context/soe_research/article/1179/viewcontent/Optimum_currency_area_in_Europe_2003.pdf

In this paper we explore an alternative scheme to assess the suitability of adopting a common currency by Western European countries. It is based on the role of common regional shocks in the determination of output. The results show that the OCA theory well explains and predicts participation decisi...