Bookcover of Patterns of Trade, Specialisation and Business Cycles in Europe
Booktitle:

Patterns of Trade, Specialisation and Business Cycles in Europe

Implications for Monetary Union

LAP LAMBERT Academic Publishing (2010-02-04 )

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ISBN-13:

978-3-8383-4393-8

ISBN-10:
383834393X
EAN:
9783838343938
Book language:
English
Blurb/Shorttext:
On the introduction of the euro in 1999, eleven countries gave up independent monetary policy to a common European Central Bank. In making that decision many were concerned whether these countries are structurally and cyclically ready to cope with a one size fits all monetary policy. This study analyses the structural and cyclical properties of European countries of the past 50 years and considers whether prolonged and extended economic integration has brought the European economies together or is dividing them. Some economists consider the Optimum Currency Area criteria to be endogenous, so that economies might eventually meet the OCA criteria ex post joining a single currency, even if they do no ex ante. This study establishes the theoretical foundations of OCA and by using country and regional data, examines the determinants of business cycle synchronicity and the patterns of trade, specialisation and business cycles since 1960, providing a outlook for the future of the euro. This study provides a diverse and comprehensive approach to the endogeneity of OCAs and would be useful for anyone interested in the development of monetary union in Europe.
Publishing house:
LAP LAMBERT Academic Publishing
Website:
https://www.lap-publishing.com/
By (author) :
Adam Bointon
Number of pages:
268
Published on:
2010-02-04
Stock:
Available
Category:
International economy
Price:
79.00 €
Keywords:
Optimum Currency Areas, Monetary Union, Euro, business cycles, Economic integration, Specialisation, European Union, Business Cycle Synchronisation, Regional Data, Intra-industry trade

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