Monetary unions and endogeneity of the OCA criteria

Hiroya Akiba; Yukihiro Iida

doi:10.1080/12265080802692795

Monetary unions and endogeneity of the OCA criteria

Hiroya Akiba^*, Yukihiro Iida

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

This article examines an endogeneity issue within the Optimum Currency Area (OCA) theory. According to the cost-benefit analysis, we found that there are the upper and the lower bounds in the degree of monetary integration for a monetary union to be created. We also found that a country may secede from the monetary union, depending on its degree of integration. A country may also secede when production specialization is facilitated with monetary integration within a framework of the "OCA line". We also consider the endogeneity of the "OCA Index", and applied our analysis to the optimum number of world currencies.

Original language	English
Pages (from-to)	101-116
Number of pages	16
Journal	Global Economic Review
Volume	38
Issue number	1
DOIs	https://doi.org/10.1080/12265080802692795
Publication status	Published - 2009

Keywords

Endogeneity
Monetary Union
OCA

ASJC Scopus subject areas

Economics, Econometrics and Finance(all)
Business and International Management
Political Science and International Relations

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10.1080/12265080802692795

Cite this

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Monetary unions and endogeneity of the OCA criteria

Abstract

Keywords

ASJC Scopus subject areas

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