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The shrinking endogeneity of optimum currency areas criteria : Evidence from the European Monetary Union - a beta regression approach

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dc.contributor.authorMendonça, António
dc.contributor.authorSilvestre, João
dc.contributor.authorPassos, José
dc.date.accessioned2025-01-27T14:35:00Z
dc.date.available2025-01-27T14:35:00Z
dc.date.issued2007
dc.description.abstractThe endogeneity of optimum currency areas criteria has been widely studied since Frankel and Rage (1998) seminal paper Literature normally suggests frat there is a positive between trade business cycles correlation. This paper develops work on this subject (Silvestre and Mendonça 2007) where we confirm this hypothesis in real countries and UE-15 for 1967-2003 period using OLS and 2SLS estimates. However, we also find then that trade influence on cycles synchronization in the last years. Now our goal was precisely to evaluate this question. Using a non-linear model based on Beta distribution in the same sample, we concluded that trade has a decreasing marginal effect on business cycles correlation. This result shows that trade flows are important in the first stages of economic integration, but become less important as trade increases. Other must then be considered.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationMendonça, António; João Silvestre and José Passos .(2007). “The shrinking endogeneity of optimum currency areas criteria : Evidence from the European Monetary Union - a beta regression approach “, The 6th Inha – Le Havre International Conference, Incheon, Republic of Korea. 10th- 11 th October, 2007pt_PT
dc.identifier.urihttp://hdl.handle.net/10400.5/97813
dc.language.isoengpt_PT
dc.publisherInstitut of Business and Economic Research | Inha University, Koreapt_PT
dc.subjectEuropean Monetary Union (EMU)pt_PT
dc.subjectBusiness Cycle Correlationpt_PT
dc.subjectOptimum Currency Areaspt_PT
dc.subjectBeta Regressionpt_PT
dc.titleThe shrinking endogeneity of optimum currency areas criteria : Evidence from the European Monetary Union - a beta regression approachpt_PT
dc.typejournal article
dspace.entity.typePublication
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT

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