Optimum Currency Areas , Real and Nominal Convergence in the European Union

@inproceedings{Andrade2015OptimumCA,
  title={Optimum Currency Areas , Real and Nominal Convergence in the European Union},
  author={Jo{\~a}o Miguel Gonçalves de Sousa Andrade and Ant{\'o}nio Duarte},
  year={2015}
}
It is well known and widely accepted by economists that the characteristics of the European countries that become the Eurozone in 1999 did not match the requirements of an Optimum Currency Area (OCA). The only criteria for membership of the new area were nominal. A strict level of convergence in inflation and interest rates was imposed. In addition to the nominal convergence (monetary), a process of convergence of nominal incomes in the new monetary unit was expected to be generated with the… CONTINUE READING

References

Publications referenced by this paper.
Showing 1-10 of 44 references

The Next Generation of the Penn World Table, available for download at www.ggdc.net/pwt

  • R. Feenstra, R. Inklaar, M. Timmer
  • 2013

The Eurozone: An Optimal Currency Area?

  • M. Furruter
  • IFIER Papers,
  • 2012

Balancing Imbalances: Improving Economic Governance in the EU after the Crisis

  • M. Buti
  • CESifo Forum,
  • 2011
1 Excerpt

Downsizing the Eurozone into an OCA or Entry into a Fiscal Transfer Union

  • F. Breuss
  • CESifo Forum,
  • 2011
1 Excerpt