Arbeitspapier
The Endogeneity of the Optimum Currency Area Criteria, Intraindustry Trade, and EMU Enlargement
This paper tests the endogeneity hypothesis of OCA criteria (Frankel and Rose, 1998) in a cross-section of OECD countries between 1990 and 1999. It is shown that intraindustry trade actually causes the convergence of business cycles, while there is no direct relation between business cycles and bilateral trade intensity. As far as intraindustry trade is positively correlated with trade, the OCA endogeneity hypothesis is confirmed, although the argumentation follows Krugman (1993). Finally, the endogeneity of OCA criteria implies a comparable degree of business cycle hfirmonization of CEECs with EU countries as for the current members for the medium tfirm.
- Sprache
-
Englisch
- Erschienen in
-
Series: LICOS Discussion Paper ; No. 106
- Klassifikation
-
Wirtschaft
Economic Integration
Open Economy Macroeconomics
- Thema
-
Optimum currency area
EMU
trade
business cycle
CEECs
Europäische Wirtschafts- und Währungsunion
Optimaler Währungsraum
Intraindustrieller Handel
EU-Erweiterung
Konjunktur
EU-Staaten
Osteuropa
OECD-Staaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fidrmuc, Jarko
- Ereignis
-
Veröffentlichung
- (wer)
-
Katholieke Universiteit Leuven, LICOS Centre for Transition Economics
- (wo)
-
Leuven
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Fidrmuc, Jarko
- Katholieke Universiteit Leuven, LICOS Centre for Transition Economics
Entstanden
- 2001