The endogeneity of the optimum currency area criteria

Article Abstract:

An empirical model using a panel of bilateral trade and business cycle data of twenty industrialized countries over thirty years indicated that closer international trade links tend to have more correlated business cycles across countries. Continued European trade liberalization might result in more tightly correlated European business cycles, rendering common European currency both more likely and more advantageous. Monetary union itself can enhance trade integration further and business cycle symmetry.

Trade Relations, Currency Stabilization Programs, Analysis, International trade, Industrialized countries, International economic relations, European Union, Monetary unions, Trade policy, Industrial nations, Currency stabilization

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Reforming the international financial system

Article Abstract:

International financial systems can be changed through improving information quality, improving macroeconomic policies, increasing countries' economic adaptability and fortifying banks and financial systems. These changes will allow easier regulation of financial instruments and better information.

World, Intnl Economic Policy & Research, Statistical Data Included, Management, International finance

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