The Endogenity of the Optimum Currency Area Criteria

Clicks: 3
ID: 290334
1998
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Abstract
A country' suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other countries. But international trade patterns and international business cycle correlations are endogenous. This paper develops and investigates the relationship between the two phenomena. Using thirty years of data for twenty industrialised countries, we uncover a strong and striking empirical finding: countries with closer trade links tend to have more tightly correlated business cycles.
Reference Key
openalex_W3125146190 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Jeffrey A. Frankel, Andrew K. Rose
Journal the economic journal
Year 1998
DOI
10.1111/1468-0297.00327
URL
https://doi.org/10.1111/1468-0297.00327
Keywords Keywords not found

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