Endogenitatea criteriilor teoriei zonei monetare optime

The endogeneity of the optimum currency area criteria

Cristina Puiu

MPRA Paper from University Library of Munich, Germany

Abstract: This paper aims to review existing literature on the endogenous effects of monetary integration: whether sharing a single currency may set in motion forces bringing countries closer together. The first part is a review of significant paper in the vast literature on the endogeneity of optimum currency area theory that focuses on the main criteria that are subject of this hypothesis. The second part considers empirical literature on the effects of monetary integration on trade and business cycle synchronization based on evidences provided by the euro area experience. The main conclusion is that the hypothesis attracted a large number of studies and, although they provide heterogeneous results caused by using different methodologies, they all indicate a positive effect.

Keywords: optimum currency areas; endogeneity; business cycle correlation; Rose Effect (search for similar items in EconPapers)
JEL-codes: E42 F15 F33 (search for similar items in EconPapers)
Date: 2010-10-25
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