Grimm, Louisa; Steinkamp, Sven; Westermann, Frank - 2021
euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the … classical Optimal Currency Area (OCA) criterion of positively correlated shocks with the European Monetary Union (EMU). We … currency area to be optimal. We test this additional OCA criterion using the concept of a common serial correlation test. The …