Quarterly Journal of Austrian Economics
The Failure of OCA Analysis
Volume 7, No. 2 (Summer 2004)
In this paper the theory of optimum currency areas (OCA) is presented, and then I will attempt to prove:
1. The OCA theory is nonoperational and irrelevant in dealing with the present international monetary situation.
2. The basic postulates of OCA theory are internally inconsistent and incompatible with economic theory.
Cite This Article
Glăvan, Bogdan. "The Failure of OCA Analysis." The Quarterly Journal of Austrian Economics 7, No. 2 (Summer 2004): 29–46.