β Scribed by M.J. Artis
No coin nor oath required. For personal study only.
Optimal Currency Area (OCA) theory offers criteria for evaluating the optimality of monetary union arrangements. This paper reviews the use that has been made of these criteria in the specific context of European Monetary Union. It reviews the use of business cycle synchronization data and the data produced by SVAR analyses, which led to the βcoreβperipheryβ distinction. It also reviews extensions of the criteria that have been proposed or generated in this context: in particular, the proposition that the criteria may be βendogenousβ. It presents Taylor rule estimates to check for inhomogeneities in Euro Area performance. The paper concludes that OCA criteria provide a useful starting point for evaluating monetary union options. Copyright Β© 2003 John Wiley & Sons, Ltd.
π SIMILAR VOLUMES
aqueous suspensions ( 14 -20 ) and concentrated suspen-Static (SLS) and dynamic light-scattering (DLS) measurements sions in the refractive index matched organic solvents and reflection spectroscopy are made for the kinetic analyses of the ( 21 -29 ) . ## growing processes of colloidal crystals of