Revenge of the Optimum Currency Area

By Paul Krugman. NBER macroeconomics annual, 2013

219 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/d357c7523ab55f1135c491016e64c24db85ffb8c

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In Finance

1. A. Nölke
2. P. Hall
3. Dorothee Bohle
4. Frank Schimmelfennig

Citations in the corpus

• Economic causes of the Eurozone crisis: the analytical contribution of Comparative Capitalism (2016, result): “…areas reduce the degree of flexibility in case of a need for adjustment caused by an asymmetric shock: whereas Iceland was able to achieve a 25% fall in wages relative to the Eurozone with a single devaluation, Spain—with a similar problem of overvaluation—was unable to do so (Krugman, 2012).”
• Varieties of capitalism in light of the euro crisis (2018, background): “The emphasis of optimal-currency-area (OCA) theory on the lack of labor mobility and central fiscal stabilizers in Europe also does not get us very far (Kenen 1969; Krugman 2013; McKinnon 1963).”