Objective: The objective of the article is to determine which exchange rate regime provides higher bilateral trade: fixed rate or currency union. Research Design & Methods: An index was designed based on variables commonly recognised as those that might affect the value of bilateral trade and...

Studies often conclude that the proposed Southern African Development Community monetary union would be disastrous and not optimal for all member countries. This is because of the observed low, and sometimes negative business cycle correlation amongst member countries. However, it has been...

Market economies experience high rates of job creation and job destruction in almost every time period and sector. Each year, many businesses expand and many others contract. New businesses constantly enter, while others abruptly exit or gradually disappear. Amidst the turbulence of business...

Wage developments and related policies that determine labor markets functioning and wage formation processes, are key factors with central importance in EMU. Flexibility in labor markets functioning and wage-setting aiming to nominal and real wage flexibility, has been the most important policy...