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The Endogeneity of the Optimum Currency Area Criteria
A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currencyExpand
One Market: The Effect of Common Currencies on Trade
A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international trade. The panel data, bilateral observations for five years during 1970-90Expand
One Money, One Market: Estimating the Effect of Common Currencies on Trade
A gravity model is used to asses the separate effects of exchange rate volatility and currency unions on international trade. The panel data set I use includes bilateral observations for five yearsExpand
Currency crashes in emerging markets: An empirical treatment
We use a panel of annual data for over 100 developing countries from 1971 through 1992 to characterize currency crashes. We define a currency crash as a large change of the nominal exchange rate thatExpand
An Estimate of the Effect of Common Currencies on Trade and Income
Gravity-based cross-sectional evidence indicates that currency unions and currency boards stimulate trade; cross-sectional evidence indicates that trade stimulates income. This paper estimates theExpand
Does a Currency Union Affect Trade? The Time Series Evidence
Does leaving a currency union reduce international trade? We answer this question using a large annual panel data set covering 217 countries from 1948 through 1997. During this sample a large numberExpand
Exchange market mayhem: the antecedents and aftermath of speculative attacks
Exchange market mayhem The antecedents and aftermath of speculative attacks This paper evaluates the causes and consequences of episodes of turbulence in foreign exchange markets. Using data fromExpand
Contagion and Trade: Why are Currency Crises Regional?
Currency crises tend to be regional; they affect countries in geographic proximity. This suggests that patterns of international trade are important in understanding how currency crises spread, aboveExpand
Contagious Currency Crises: First Tests
The authors address the fact that the incidence of speculative attacks tends to be temporally correlated; that is, currency crises appear to pass 'contagiously' from one country to another. The paperExpand
Is EMU more justifiable ex post than ex ante? European Economic Review 41
Abstract Yes. A country's suitability for EMU entry depends on the intensity of trade with EMU members, and the extent to which its business cycles are correlated with those of other members. ButExpand
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