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"Has the EU become an OCA? Evaluation using model-based cluster analysis"

Crowley, Patrick M. (2003) "Has the EU become an OCA? Evaluation using model-based cluster analysis". In: UNSPECIFIED, Nashville, TN. (Unpublished)

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    Abstract

    This paper, rather than discussing the political and economic merits or otherwise of EMU, seeks to evaluate which member states, potential member states, and other European countries might be most suited as candidates for EMU, in the sense that 1) synchronicity of business cycles with Germany is achieved, and 2) countries have similar experience with movements in interest rates, inflation and unemployment. Unlike with optimal currency area considerations, both labor mobility and trade intensity are ignored, as labor mobility is rather small in the EU, and although trade intensity clearly matters for the possibility of achieving convergence (usually through the endogenous Optimum Currency Area route), there is a considerable amount of debate in the economics literature as to the nature and size of the relationship between a single currency and the growth of trade.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Subjects for non-EU documents: Countries > Germany
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 2003 (8th), March 27-29, 2003
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 28 Sep 2006
    Page Range: p. 48
    Last Modified: 15 Feb 2011 17:42
    URI: http://aei.pitt.edu/id/eprint/6478

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