BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
Optimum currency area theory: A selective review
Abstract: The first part of this paper is a review of significant
papers in the vast literature on optimum currency area (OCA) theory. The
author focuses on the main classical contributions, then considers modern
treatment of OCA theory. The second part considers empirical literature on
the types of geographical areas that might constitute optimum currency
areas, particularly with respect to asymmetry and symmetry of shocks.
JEL-Codes: E42; F33; (follow links to similar papers)
42 pages, November 26, 2003
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