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The Eurozone - An Optimum Currency Area?: A analysis of the Eurozone using Optimum Currency Area Theory
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
2017 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Is the Eurozone an Optimum Currency Area? That question is being asked by more and morepeople in the wake of the 2008 Eurocrisis. And what is the alternative. The idea of a“northern Euro” and a “southern Euro” has been floated, but is that a more feasible solution?

Using Robert Mundell Theory on Optimum Currency Areas I use a set of criterion todetermine if the Eurozone is an Optimum Currency Area. I compare how well the foundingEurozone countries plus Greece full fill these criterion, both as a model for the Eurozone, andas model for a “northern Euro and a southern Euro”. I also analyse how the Eurozonecountries have converged since they joined the Eurozone.

My conclusion is that while the “northern Euro” and the “southern Euro” are more feasibleoptions to the Eurozone, they are not feasible as Optimum Currency Area. I also concludethat while there has been substantial convergence within the “northern Euro” and the“southern Euro”, there has not been a lot of convergence between the two.I

Place, publisher, year, edition, pages
2017.
National Category
Economics
Identifiers
URN: urn:nbn:se:umu:diva-138432OAI: oai:DiVA.org:umu-138432DiVA: diva2:1135048
Available from: 2017-08-22 Created: 2017-08-22 Last updated: 2017-08-22

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