Assessing the Endogeneity of OCA Conditions in EMU

Carlos Vieira and Isabel Vieira ()

CEFAGE-UE Working Papers from University of Evora, CEFAGE-UE (Portugal)

Abstract: The academic and political discussion about which countries met the conditions for joining EMU was decisively influenced by the Frankel and Rose (1997) hypothesis concerning endogenous OCA properties. The answer to their question "Is EMU more justifiable ex post than ex ante?" was a definite yes in their ex ante analysis. Our ex post examination of the euro's first decade, however suggests that the hypothesis does not hold for some countries. This paper utilizes panel data estimation techniques to compute OCA indices that help assess the OCA endogeneity hypothesis and signal current external and fiscal imbalances.

JEL-codes: F15 F36 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://api.cefage.uevora.pt/assets/2959a5c8-9a2b-4df7-abcc-3d36c23886e5 (application/pdf)

Related works:
Journal Article: ASSESSING THE ENDOGENEITY OF OCA CONDITIONS IN EMU (2012)
Working Paper: ASSESSING THE ENDOGENEITY OF OCA CONDITIONS IN EMU (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cfe:wpcefa:2011_01

Access Statistics for this paper

More papers in CEFAGE-UE Working Papers from University of Evora, CEFAGE-UE (Portugal) Contact information at EDIRC.
Bibliographic data for series maintained by Angela Pacheco ().