Optimal currency areas : a review of the recent literature / by Robert Lafrance and Pierre St-Amant. : FB3-2/99-16E

This paper surveys the recent literature on optimal currency areas (OCAs). Topics that are covered include theoretical developments in the context of general-equilibrium models and empirical work on shocks asymmetry and adjustment mechanisms. Issues relating to the endogeneity of OCA criteria, the role of exchange rate flexibility in promoting greater macroeconomic stability, and the links between productivity and the exchange rate are also surveyed. We conclude with suggestions for future research.--Abstract

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Publication information
Department/Agency Bank of Canada.
Title Optimal currency areas : a review of the recent literature / by Robert Lafrance and Pierre St-Amant.
Series title Working paper1192-543499-16
Publication type Series - View Master Record
Language [English]
Format Paper
Other formats Electronic-[English]
Note(s) "This paper surveys the recent literature on optimal currency areas (OCAs). Topics that are covered include theoretical developments in the context of general-equilibrium models and empirical work on shocks asymmetry and adjustment mechanisms. Issues relating to the endogeneity of OCA criteria, the role of exchange rate flexibility in promoting greater macroeconomic stability, and the links between productivity and the exchange rate are also surveyed. We conclude with suggestions for future research."--Abstract.
Bibliography.
Résumés en français
Publishing information Ottawa - Ontario : Bank of Canada 1999.
Binding Softcover
Description v, 30p. : tables ; 28 cm.
ISBN 0-662-28180-2
ISSN 1192-5434
Catalogue number
  • FB3-2/99-16E
Departmental catalogue number 99-16
Subject terms Exchange rates
Currency
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