PL EN


2007 | 18 | 5-6 | 45-60
Article title

THE OCA THEORY AND ITS EMPIRICAL APPLICATION FOR THE EMU

Authors
Selected contents from this journal
Title variants
Languages of publication
EN
Abstracts
EN
The paper probes the notions of an 'optimum currency area' (OCA) and 'business cycle synchronization' in the context of convergence within the European Monetary Union (EMU). Analyzing the latest literature in this area, the author concludes that most of the measures currently used and promoted ignore the key advantages and disadvantages of an optimum currency area. At the same time, the paper attempts to apply a common tool of gravity equation to test the possible impact of the EMU on trade patterns among EU member states. By implementing a traditional notion of gravity equation, the author demonstrates that, as far as international trade is concerned, it is possible to move trade flows from non-EMU countries to those using the single European currency.
Year
Volume
18
Issue
5-6
Pages
45-60
Physical description
Document type
ARTICLE
Contributors
author
  • J. Tyrowicz, Uniwersytet Warszawski, Wydzial Nauk Ekonomicznych, ul. Dluga 44/50, 00-241 Warszawa, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
07PLAAAA02855814
YADDA identifier
bwmeta1.element.9fb2ebc0-e7dd-3702-b5f3-d76cb6a923fd
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