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Doomsday for the euro area : causes, variants and consequences of breakup

Belke, Ansgar; Verheyen, Florian - 2013

of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …

Persistent link: https://www.econbiz.de/10010255127

Completing the monetary union of Europe as mid-term solution of the Euro crisis

Fischer, Justina A. V.; Pastore, Francesco - 2015

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …

Persistent link: https://www.econbiz.de/10011308548

The Exogeneity (at Best) of the Optimum Currency Area Criteria for the Euro Zone

Miles, William - 2011

divergent-business cycles that this literature overlooks. We thus test directly for the impact of the Euro on business cycle … synchronization using two variants of Markov Switching models. Examining four small Euro zone countries, our results indicate there …, actually divergence. In contrast, when investigating three non-Euro zone countries, there is no significant loss of …

Persistent link: https://www.econbiz.de/10013117581

Lost at sea : the euro needs a Euro Treasury

Bibow, Jörg - 2013

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A "Euro Treasury" scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …

Persistent link: https://www.econbiz.de/10010204687

One money, one cycle? : the EMU experience

Gächter, Martin; Riedl, Aleksandra - 2013

Persistent link: https://www.econbiz.de/10010221153

The Suitability of a Greater China Currency Union

Research, Hong Kong Institute for Monetary and Financial - 2022

This working paper was written by Yin-wong Cheung (University of California, Santa Cruz) and Jude Yuen (University of California, Santa Cruz).The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of...

Persistent link: https://www.econbiz.de/10014048654

Real and Nominal Divergences in a Monetary Union - An Approach beyond the Theory of Optimum Currency Areas

Koronowski, Adam - 2008

This paper is intended to theoretically present divergent business cycles as effects of a monetary union, even in the absence of asymmetric, exogenous shocks. The main inference form the model developed in this paper says that microeconomic optimization may lead to sub-optimal macro states and...

Persistent link: https://www.econbiz.de/10014219204

An Optimum-Currency-Area Odyssey

Tavlas, G. S.; Dellas, Harris - 2022

The theory of optimum-currency-areas was conceived and developed in three highly influential papers, written by Mundell (1961), McKinnon (1963) and Kenen (1969). Those authors identified characteristics that potential members of a monetary union should ideally possess in order to make it...

Persistent link: https://www.econbiz.de/10014080411

Quo vadis Eurozone? : a reappraisal of the real exchange rate criterion

Boeva, Galina V. - 2012

In 1976 Vaubel suggested using the variation of real exchange rates when evaluating the desirability of a monetary union within a group of currencies (Vaubel 1976). Currency unification is less desirable, the more often real exchange rate adjustments are needed. Ten years later, Mussa...

Persistent link: https://www.econbiz.de/10009671124

Monetary policy as an optimum currency area criterion

Groll, Dominik - 2014

Whether countries benefit from forming a monetary union depends critically on the way monetary policy is conducted. This is mainly because monetary policy determines whether and to what extent a flexible nominal exchange rate fosters or hampers macroeconomic stabilization, even if monetary...

Persistent link: https://www.econbiz.de/10010427958