Monetary unions and endogeneity of the OCA criteria

Hiroya Akiba*, Yukihiro Iida

*この研究の対応する著者

    研究成果: Article査読

    2 被引用数 (Scopus)

    抄録

    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.

    本文言語English
    ページ(範囲)101-116
    ページ数16
    ジャーナルGlobal Economic Review
    38
    1
    DOI
    出版ステータスPublished - 2009

    ASJC Scopus subject areas

    • 経済学、計量経済学および金融学(全般)
    • ビジネスおよび国際経営
    • 政治学と国際関係論

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