159: Економічні науки

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Optimum currency area theory: overview of empirical researches
(2014) Pinchuk, A.
In the times o f high speed o f globalization problem o f effective integration becomes more popular, and new issues regarding Optimum Currency Area Theory appear Current work presents overview o f the most significant empirical investigations in the field o f Optimum Currency Area (OCA) Theory Most o f researches proposed currency rate volatility as index o f OCA, and applied regression models, cross-section and correlation analysis. Particularly further work contains description o f Bayoumi T. and Eichengreen B. regression model; similar model developed by Stanoeva G.; empirical research made by Drogobytskiy S. and Polevoy D. for post-soviet countries; cross-section analysis o f macroeconomic indicators for countries all over the world by Alesina A., Barro R. and Tenreyrro S.; comparison analysis o f currency rate volatility among German regions by Von Hagen J. and Neuman M.; cross-section analysis o f OCA criteria for Finland and Swiss by Jonung I. and Sjoholm F; and investigation o f Ukrainian scientist Gonchar O.M. about endogenity o f business cycle synchnization. Overview o f major empirical researches o f OCA criteria provides understanding o f benefits and threats o f different tools o f empirical investigation, and support OCA Theory with practical evidences on OCA criteria applications.