Endogenita teórie optimálnej menovej oblasti

Abstract

The aim of this diploma thesis is to verify the OCA endogeneity hypothesis and determine which type of integration, i.e. the euro area or ERM II "as" the EU, causing greater correlation of business cycles in selected countries of Germany. The work consists of five chapters, the first being an introduction. Theoretical part is the chapter 2. Chapter 3 and 4 form the empirical work. Chapter 2 describes the emergence and development of OCA theory. Chronologically arranged thoughts OCA theory of R. Mundell, through the contributions of R. McKinnon, P. Kenen to the present. Chapter 3 is focused on two basic criteria for the calculation of OCA (degree of diversification of production and degree of openness of the economy) relative to the states that joined the European Union in 2004. Chapter 4 is aimed at analyzing the correlation of business cycles in selected countries of the German economy based on trade integration in the period 2001 to 2009. Trade integration depends on the intensity of mutual trade and intra-industry trade.