Optimum currency area theory : A selective review

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Title: Optimum currency area theory : A selective review
Author: Horvath, Julius
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 15/2003
Year of publication: 2003
Publication date: 15.12.2003
Pages: 38 s.
Keywords: valuutat; häiriöt; valuuttaunionit; avoin talous; Bofit-kokoelma; optimaalinen valuutta-alue; teoriat
JEL: E42; F33
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 classification: E42, F33
Rights: https://helda.helsinki.fi/bof/copyright


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