This paper surveys the optimum currency area (OCA) literature. It is organised into four
phases: the" pioneering phase" which put forward the OCA theory and its properties, the" …

The aim of this paper is to analyse the effects of the implementation of the Internal Market
Programme and to propose ideas on how its potential can be better exploited. First, the …

An empirical study of exchange rate regimes based on data compiled from 150 member
countries of the International Monetary Fund over the past thirty years. Few topics in …

Building on the needs for long-term capital inflows in developing countries, this paper
reconsiders the choice of an exchange-rate regime by integrating the determinants of …

This article tests the endogeneity hypothesis of optimum currency area (OCA) criteria in a
cross‐section of OECD countries in the 1990s. It argues that intraindustry trade induces …

We analyze the transmission of global financial crisis to business cycles in China and India.
The pattern of business cycles in emerging Asian economies generally displays a low …

Economic Policy provides a unique combination of facts-based analysis, state-of-the art
economic theory, and insights from first-hand policy experience at the national and …

This paper analyzes the synchronization of business cycles between new and old EU
members using various measures. The main findings are that Hungary, Poland and …

This paper develops a model of the circumstances under which it is beneficial to participate
in a currency area. The proposed two-country monetary model of trade with nominal …

It is generally recognized that countries wanting to join a monetary union should display the
optimal currency area properties. One such property is the similarity of business cycles. We …