Optimum Currency Area Theory: A Selective Review

Horvath, Julius

doi:10.2139/ssrn.1015480

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Optimum Currency Area Theory: A Selective Review

BOFIT Discussion Paper No. 15/2003

42 Pages Posted: 19 Sep 2007

See all articles by Julius Horvath

Julius Horvath

Central European University (CEU) - Department of Economics

Date Written: November 26, 2003

Abstract

The first part of this paper is a review of significant papers in the vast literature on optimum currency area (OCA) theory. The author focuses on the main classical contributions, then considers modern treatment of OCA theory. The second part considers empirical literature on the types of geographical areas that might constitute optimum currency areas, particularly with respect to asymmetry and symmetry of shocks.

JEL Classification: E42, F33

Suggested Citation: Suggested Citation

Horvath, Julius, Optimum Currency Area Theory: A Selective Review (November 26, 2003). BOFIT Discussion Paper No. 15/2003, Available at SSRN: https://ssrn.com/abstract=1015480 or http://dx.doi.org/10.2139/ssrn.1015480