Teorie OCA a její aplikace na Evropskou měnovou unii

Abstract

The aim of this Thesis is to evaluate the current state of the euro area, to determine whether it satisfies the conditions of optimum currency area theory and how was the optimality afffected by the economic crisis. The specific monitored parameters are labor mobility, the business cycles synchronization and openess of economics. The Thesis is divided into three chapters. The first part is devoted to the Theory of OCA since its first publication by R. A. Mundell up to form the traditional approach and then to form a new approach – an analysis of benefits and costs. The next chapter deals with the development of monetary union from the 1993 to the present. It includes the creation of European monetary union, the scenarios for the introduction of the euro, gradual expansion and the states with a derogation. The last part is devoted to examining three traditional OCA criteria and look at the changes in these parameters caused by the negative impact of the economic crisis.