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Optimum Para Alanları Teorisi

Yıl 2007, Cilt: 5 Sayı: 5, - , 01.06.2007

Öz

Bu çalışma, Avrupa ekonomik ve parasal bütünleşmesine önemli bir teorik çerçeve sunan optimum para alanları teorisini değerlendirmeyi amaçlamaktadır. Optimum para alanları teorisi, para birliği oluşturulacak bölgenin ekonomik özelliklerinin ne olması gerektiğini belirlemeye çalışır. Optimum para alanları teorisi üç aşamada incelenebilir. Mundell (1961)’in gelecekteki çalışmalara temel olan çalışmasıyla başlayan 1960’lar ve 1970’lerin başındaki öncü aşamayı, 1970’lerde teorinin bütünleştirici aşaması izlemiştir. Üçüncü aşamada, 1980’lerden günümüze optimum para alanları teorisi yeniden değerlendirilmiş ve teori ampirik çalışmalar ile test edilmiştir. Bu çalışmada son olarak, optimum para alanlarının endojenliği ele alınmıştır.

Kaynakça

  • Aktan, H. O. (1983), Para Birlikleri Kuramı ve Avrupa Para Sistemi, H.Ü. İİBF Yayınları No.4, Ankara.
  • Alesina, A., Barro, R. J. ve Tenreyno, S. (2002) “Optimal Currency Area”, NBER Working Paper, 9072.
  • Artis, M. J. (1991), “One Market, One Money: An Evaluation of the Potential Benefits and Costs of Forming an Economic and Monetary Union”, Open Economies Review, 2, 315–21.
  • Artis, M. ve Zhang, W. (2001), “Core and Periphery in EMU: A Cluster Analysis”, Economic Issues, 6(2), 39–60.
  • Barro, R., ve Gordon, D. B. (1983), “Rules, Discretion and Reputation in a Model of Monetary Policy”, Journal of Monetary Economics, 12, 101-121.
  • Bayoumi, T. ve Eichengreen, B. (1992), “Shocking Aspects of European Monetary Unification”, NBER Working Paper Series, 3949.
  • Bayoumi, T. ve Eichengreen, B. (1997), “Optimum Currency Areas and Exchange Rate Volatility: Theory and Evidence Compared”, B. Cohen (der.), International Trade and Finance: New Frontiers for Research, Essays in Honour of Peter Kenen içinde, Cambridge: Cambridge University Press.
  • Bertola, G. (1989), “Factor Flexibility, Uncertainty and Exchange Rate Regimes”, M. De Cecco ve A. Giovannini (der.), A European Central Bank? Perspectives on Monetary Unification After Ten Years of the EMS içinde, Cambridge University Press.
  • Boreiko, D. (2002), “EMU and Accession Countries: Fuzzy Cluster Analysis of Membership”, Oesterreichische Nationalbank Working Paper, 71.
  • Coenen, G. ve Wieland, V. (2000), “A Small Estimated Euro Area Model With Rational Expectations And Nominal Rigidities”, ECB Working Paper Series, 30.
  • Cohen, B. (der.) (1997), International Trade and Finance: New Frontiers for Research, Essays in Honour of Peter Kenen, Cambridge: Cambridge University Press.
  • Corden, W. M. (1972), Monetary Integration, Essays in International Finance, No. 93, Princeton, New Jersey: Princeton University.
  • De Bandt, O. ve Mongelli, F. P. (2000), “Convergence of Fiscal Policies in the Euro Area”, ECB Working Paper Series, 20.
  • De Cecco, M. ve Giovannini, A. (der.) (1989), A European Central Bank? Perspectives on Monetary Unification After Ten Years of the EMS, Cambridge University Press.
  • De Grauwe, P. (2000), Economics of Monetary Union, Fourth Edition, Oxford University Press.
  • Duda, R. O., Hart, P. E. ve Stork, D.G. (2000), Pattern Classification, Second Edition, United States: John Wiley & Sons.
  • Eatwell, J., Milgate, M. ve Newman, P. (der.) (1987), The New Palgrave: A Dictionary of Economics, London: The Macmillan Press.
  • Eichengreen, B. (1991), “Is Europe an Optimum Currency Area?” NBER Working Paper Series, 3579.
  • Eichengreen, B. ve Bayoumi, T. (1996a), “Is Asia an Optimum Currency Area? Can It Become One? Regional, Global and Historical Perspectives on Asian Monetary Relations”, Center for International and Development Economics Research Working Paper Series, 1033.
  • Eichengreen, B. ve Bayoumi, T. (1996b), “Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries”, Center for International and Development Economics Research.
  • Ferrero, A. (2005), “Fiscal And Monetary Rules For A Currency Union”, ECB Working Paper Series, 502.
  • Fleming, M. J. (1971), “On Exchange Rate Unification”, Economic Journal, 81, 467–88.
  • Frankel, J. A. (1999), “No Single Currency Regime is Right for All Countries or at All Times”, NBER Working Paper Series, 7338.
  • Frankel, J. A. ve Rose, A. K. (1996), “The Endogeneity of the Optimum Currency Area Criteria”, NBER Working Paper Series, 5700.
  • Frenkel, M. ve Nickel, C. (2002), “How Symmetric Are the Shocks and the Shock Adjustment Dynamics Between the Euro Area and Central and Eastern European Countries?” IMF Working Paper, WP/02/222.
  • Friedman, M. (1953), “The Case for Flexible Exchange Rates”, M. Friedman (der.), Essays in Positive Economics içinde, University of Chicago Press, 157–203.
  • Friedman, M. (der.) (1953), Essays in Positive Economics, University of Chicago Press.
  • Giavazzi, F. ve Giovannini, A. (1989), Limiting Exchange Rate Flexibility: the European Monetary System, Cambridge, Massachusetts: The MIT Press.
  • Ghosh, A. R. ve Wolf, H. C. (1994), “How Many Monies? A Genetic Approach to Finding Optimum Currency Areas”, NBER Working Paper Series, 4805.
  • Haberler, G. (1970), “The International Monetary System: Some Recent Developments and Discussions”, G. N. Halm (der.), Approaches to Greater Flexibility of Exchange Rates: The Bürgenstock Papers içinde, Princeton, N.J.: Princeton University Press, 115-123.
  • Halm, G. N. (der.) (1970), Approaches to Greater Flexibility of Exchange Rates: The Bürgenstock Papers, Princeton, N.J.: Princeton University Press.
  • Ingram, J. C. (1969), “Comment: The Currency Area Problem” R. A. Mundell ve A. K. Swoboda (der.), Monetary Problems of the International Economy içinde, Chicago: University of Chicago Pres, 95–100.
  • Ishiyama, Y. (1975), “The Theory of Optimum Currency Areas: A Survey”, IMF Staff Papers, XXII, 344–383.
  • İktisadi Kalkınma Vakfı (2003), Avrupa Birliği’nin Ekonomik ve Parasal Birlik Politikası ve Türkiye’nin Uyumu, Cansevdi, H. (der.) İstanbul.
  • Johnson, H. G. ve Swoboda, A. K. (der.) (1973), The Economics of Common Currencies, Cambridge: Mass. Harvard University Press.
  • Kawai, M. (1987), “Optimum Currency Areas” J. Eatwell, M. Milgate ve P. Newman (der.), The New Palgrave: A Dictionary of Economics içinde, London: The Macmillan Press, 3, 740–43.
  • Kenen, P. B. (1969), “The Theory of Optimal Currency Areas: An Eclectic View”, R. A. Mundell ve A. K. Swoboda (der.), Monetary Problems of the International Economy içinde, Chicago: University of Chicago Press, 41–60.
  • Kozluk, T. (2005), “CEEC Accession Countries and the EMU An Assessment of Relative Suitability and Readiness for Euro-Area Membership”, Journal of Economic Integration, 20(3), 439-74.
  • Krugman, P. R. (1991), “Increasing Returns and Economic Geography”, Journal of Political Economy, 99(3), 483–99.
  • Krugman, P. R. (1993), “Lessons of Massachusetts for EMU” F. Torres ve F. Giavazzi (der.), Adjustment and Growth in the European Monetary Union içinde, Cambridge University Press, 241–69.
  • Kydland, F. E. ve Prescott, E. C. (1977), “Rules Rather than Discretion: the Inconsistency of Optimal Plans”, Journal of Political Economy, 85, 473–91.
  • Maddison, A. (1989), The World Economy in the 20th Century, Paris: OECD Development Centre Studies.
  • Maastricht Treaty, 1992, < http://www.eurotreaties.com/maastrichtext.html>.
  • McKinnon, R. I. (1963), “Optimum Currency Areas”, American Economic Review, 53, 717–24.
  • Mongelli, F. P. (2002), “ “New” Views on the Optimum Currency Area Theory: What is EMU Telling Us?”, ECB Working Paper Series, 138.
  • Mundell, R. A. (1961), “A Theory of Optimal Currency Areas”, American Economic Review, 51, 657–65.
  • Mundell, R. A. ve Swoboda, A. K. (der.) (1969) Monetary Problems of the International Economy, Chicago: University of Chicago Press.
  • Protocols, Maastricht Treaty, 1992, < http://www.eurotreaties.com/maastrichtext.html>.
  • Rose, A. K. ve Engel, C. (2000), “Currency Unions and International Integration”, NBER Working Paper, 7872.
  • Smets, F. ve Wouters, R. (2002), “An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area”, ECB Working Paper Series, 171.
  • Swoboda, A. K. (1973), “Policy Conflict, Inconsistent Goals, and the Co-ordination of Economic Policies”, H. G. Johnson ve A. K. Swoboda (der.), The Economics of Common Currencies içinde, Cambridge: Mass. Harvard University Press, 133-43.
  • Tavlas, G. S. (1993), “The ‘New’ Theory of Optimum Currency Areas”, The World Economy, 16, 663–85.
  • Tavlas, G. S. (1994), “The Theory of Monetary Integration”, Open Economies Review, 5(2), 211–30.
  • Türkiye Cumhuriyet Merkez Bankası (1998), Euro 1999, Ankara: TCMB Yayını.
  • Torres, F. ve Giavazzi, F. (der.) (1993), Adjustment and Growth in the European Monetary Union, Cambridge University Press.
  • Tower, E. ve Willet, T. D. (1970), “The Concept of Optimum Currency Areas and the Choice Between Fixed and Flexible Exchange Rates”, G. N. Halm (der.), Approaches to Greater Flexibility of Exchange Rates: The Bürgenstock Papers içinde, Princeton, N.J.: Princeton University Press, 407-15.
  • Tower, E. ve Willet, T. D. (1976), The Theory of Optimum Currency Areas and Exchange-Rate Flexibility, Special Papers in International Economics, Princeton, New Jersey: Princeton University Press.
  • Weimann, M. (2003), “OCA Theory and EMU Eastern Enlargement: An Empirical Application”, Deutsche Bank Research Working Paper Series, 8.
  • Willet T. D. (2001), “The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Developments”, Claremont Colleges Working Paper, 2001–04.

Optimum Para Alanları Teorisi

Yıl 2007, Cilt: 5 Sayı: 5, - , 01.06.2007

Öz

Bu çalışma, Avrupa ekonomik ve parasal bütünleşmesine önemli bir teorik çerçeve sunan optimum para alanları teorisini değerlendirmeyi amaçlamaktadır. Optimum para alanları teorisi, para birliği oluşturulacak bölgenin ekonomik özelliklerinin ne olması gerektiğini belirlemeye çalışır. Optimum para alanları teorisi üç aşamada incelenebilir. Mundell (1961)’in gelecekteki çalışmalara temel olan çalışmasıyla başlayan 1960’lar ve 1970’lerin başındaki öncü aşamayı, 1970’lerde teorinin bütünleştirici aşaması izlemiştir. Üçüncü aşamada, 1980’lerden günümüze optimum para alanları teorisi yeniden değerlendirilmiş ve teori ampirik çalışmalar ile test edilmiştir. Bu çalışmada son olarak, optimum para alanlarının endojenliği ele alınmıştır.

Kaynakça

  • Aktan, H. O. (1983), Para Birlikleri Kuramı ve Avrupa Para Sistemi, H.Ü. İİBF Yayınları No.4, Ankara.
  • Alesina, A., Barro, R. J. ve Tenreyno, S. (2002) “Optimal Currency Area”, NBER Working Paper, 9072.
  • Artis, M. J. (1991), “One Market, One Money: An Evaluation of the Potential Benefits and Costs of Forming an Economic and Monetary Union”, Open Economies Review, 2, 315–21.
  • Artis, M. ve Zhang, W. (2001), “Core and Periphery in EMU: A Cluster Analysis”, Economic Issues, 6(2), 39–60.
  • Barro, R., ve Gordon, D. B. (1983), “Rules, Discretion and Reputation in a Model of Monetary Policy”, Journal of Monetary Economics, 12, 101-121.
  • Bayoumi, T. ve Eichengreen, B. (1992), “Shocking Aspects of European Monetary Unification”, NBER Working Paper Series, 3949.
  • Bayoumi, T. ve Eichengreen, B. (1997), “Optimum Currency Areas and Exchange Rate Volatility: Theory and Evidence Compared”, B. Cohen (der.), International Trade and Finance: New Frontiers for Research, Essays in Honour of Peter Kenen içinde, Cambridge: Cambridge University Press.
  • Bertola, G. (1989), “Factor Flexibility, Uncertainty and Exchange Rate Regimes”, M. De Cecco ve A. Giovannini (der.), A European Central Bank? Perspectives on Monetary Unification After Ten Years of the EMS içinde, Cambridge University Press.
  • Boreiko, D. (2002), “EMU and Accession Countries: Fuzzy Cluster Analysis of Membership”, Oesterreichische Nationalbank Working Paper, 71.
  • Coenen, G. ve Wieland, V. (2000), “A Small Estimated Euro Area Model With Rational Expectations And Nominal Rigidities”, ECB Working Paper Series, 30.
  • Cohen, B. (der.) (1997), International Trade and Finance: New Frontiers for Research, Essays in Honour of Peter Kenen, Cambridge: Cambridge University Press.
  • Corden, W. M. (1972), Monetary Integration, Essays in International Finance, No. 93, Princeton, New Jersey: Princeton University.
  • De Bandt, O. ve Mongelli, F. P. (2000), “Convergence of Fiscal Policies in the Euro Area”, ECB Working Paper Series, 20.
  • De Cecco, M. ve Giovannini, A. (der.) (1989), A European Central Bank? Perspectives on Monetary Unification After Ten Years of the EMS, Cambridge University Press.
  • De Grauwe, P. (2000), Economics of Monetary Union, Fourth Edition, Oxford University Press.
  • Duda, R. O., Hart, P. E. ve Stork, D.G. (2000), Pattern Classification, Second Edition, United States: John Wiley & Sons.
  • Eatwell, J., Milgate, M. ve Newman, P. (der.) (1987), The New Palgrave: A Dictionary of Economics, London: The Macmillan Press.
  • Eichengreen, B. (1991), “Is Europe an Optimum Currency Area?” NBER Working Paper Series, 3579.
  • Eichengreen, B. ve Bayoumi, T. (1996a), “Is Asia an Optimum Currency Area? Can It Become One? Regional, Global and Historical Perspectives on Asian Monetary Relations”, Center for International and Development Economics Research Working Paper Series, 1033.
  • Eichengreen, B. ve Bayoumi, T. (1996b), “Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries”, Center for International and Development Economics Research.
  • Ferrero, A. (2005), “Fiscal And Monetary Rules For A Currency Union”, ECB Working Paper Series, 502.
  • Fleming, M. J. (1971), “On Exchange Rate Unification”, Economic Journal, 81, 467–88.
  • Frankel, J. A. (1999), “No Single Currency Regime is Right for All Countries or at All Times”, NBER Working Paper Series, 7338.
  • Frankel, J. A. ve Rose, A. K. (1996), “The Endogeneity of the Optimum Currency Area Criteria”, NBER Working Paper Series, 5700.
  • Frenkel, M. ve Nickel, C. (2002), “How Symmetric Are the Shocks and the Shock Adjustment Dynamics Between the Euro Area and Central and Eastern European Countries?” IMF Working Paper, WP/02/222.
  • Friedman, M. (1953), “The Case for Flexible Exchange Rates”, M. Friedman (der.), Essays in Positive Economics içinde, University of Chicago Press, 157–203.
  • Friedman, M. (der.) (1953), Essays in Positive Economics, University of Chicago Press.
  • Giavazzi, F. ve Giovannini, A. (1989), Limiting Exchange Rate Flexibility: the European Monetary System, Cambridge, Massachusetts: The MIT Press.
  • Ghosh, A. R. ve Wolf, H. C. (1994), “How Many Monies? A Genetic Approach to Finding Optimum Currency Areas”, NBER Working Paper Series, 4805.
  • Haberler, G. (1970), “The International Monetary System: Some Recent Developments and Discussions”, G. N. Halm (der.), Approaches to Greater Flexibility of Exchange Rates: The Bürgenstock Papers içinde, Princeton, N.J.: Princeton University Press, 115-123.
  • Halm, G. N. (der.) (1970), Approaches to Greater Flexibility of Exchange Rates: The Bürgenstock Papers, Princeton, N.J.: Princeton University Press.
  • Ingram, J. C. (1969), “Comment: The Currency Area Problem” R. A. Mundell ve A. K. Swoboda (der.), Monetary Problems of the International Economy içinde, Chicago: University of Chicago Pres, 95–100.
  • Ishiyama, Y. (1975), “The Theory of Optimum Currency Areas: A Survey”, IMF Staff Papers, XXII, 344–383.
  • İktisadi Kalkınma Vakfı (2003), Avrupa Birliği’nin Ekonomik ve Parasal Birlik Politikası ve Türkiye’nin Uyumu, Cansevdi, H. (der.) İstanbul.
  • Johnson, H. G. ve Swoboda, A. K. (der.) (1973), The Economics of Common Currencies, Cambridge: Mass. Harvard University Press.
  • Kawai, M. (1987), “Optimum Currency Areas” J. Eatwell, M. Milgate ve P. Newman (der.), The New Palgrave: A Dictionary of Economics içinde, London: The Macmillan Press, 3, 740–43.
  • Kenen, P. B. (1969), “The Theory of Optimal Currency Areas: An Eclectic View”, R. A. Mundell ve A. K. Swoboda (der.), Monetary Problems of the International Economy içinde, Chicago: University of Chicago Press, 41–60.
  • Kozluk, T. (2005), “CEEC Accession Countries and the EMU An Assessment of Relative Suitability and Readiness for Euro-Area Membership”, Journal of Economic Integration, 20(3), 439-74.
  • Krugman, P. R. (1991), “Increasing Returns and Economic Geography”, Journal of Political Economy, 99(3), 483–99.
  • Krugman, P. R. (1993), “Lessons of Massachusetts for EMU” F. Torres ve F. Giavazzi (der.), Adjustment and Growth in the European Monetary Union içinde, Cambridge University Press, 241–69.
  • Kydland, F. E. ve Prescott, E. C. (1977), “Rules Rather than Discretion: the Inconsistency of Optimal Plans”, Journal of Political Economy, 85, 473–91.
  • Maddison, A. (1989), The World Economy in the 20th Century, Paris: OECD Development Centre Studies.
  • Maastricht Treaty, 1992, < http://www.eurotreaties.com/maastrichtext.html>.
  • McKinnon, R. I. (1963), “Optimum Currency Areas”, American Economic Review, 53, 717–24.
  • Mongelli, F. P. (2002), “ “New” Views on the Optimum Currency Area Theory: What is EMU Telling Us?”, ECB Working Paper Series, 138.
  • Mundell, R. A. (1961), “A Theory of Optimal Currency Areas”, American Economic Review, 51, 657–65.
  • Mundell, R. A. ve Swoboda, A. K. (der.) (1969) Monetary Problems of the International Economy, Chicago: University of Chicago Press.
  • Protocols, Maastricht Treaty, 1992, < http://www.eurotreaties.com/maastrichtext.html>.
  • Rose, A. K. ve Engel, C. (2000), “Currency Unions and International Integration”, NBER Working Paper, 7872.
  • Smets, F. ve Wouters, R. (2002), “An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area”, ECB Working Paper Series, 171.
  • Swoboda, A. K. (1973), “Policy Conflict, Inconsistent Goals, and the Co-ordination of Economic Policies”, H. G. Johnson ve A. K. Swoboda (der.), The Economics of Common Currencies içinde, Cambridge: Mass. Harvard University Press, 133-43.
  • Tavlas, G. S. (1993), “The ‘New’ Theory of Optimum Currency Areas”, The World Economy, 16, 663–85.
  • Tavlas, G. S. (1994), “The Theory of Monetary Integration”, Open Economies Review, 5(2), 211–30.
  • Türkiye Cumhuriyet Merkez Bankası (1998), Euro 1999, Ankara: TCMB Yayını.
  • Torres, F. ve Giavazzi, F. (der.) (1993), Adjustment and Growth in the European Monetary Union, Cambridge University Press.
  • Tower, E. ve Willet, T. D. (1970), “The Concept of Optimum Currency Areas and the Choice Between Fixed and Flexible Exchange Rates”, G. N. Halm (der.), Approaches to Greater Flexibility of Exchange Rates: The Bürgenstock Papers içinde, Princeton, N.J.: Princeton University Press, 407-15.
  • Tower, E. ve Willet, T. D. (1976), The Theory of Optimum Currency Areas and Exchange-Rate Flexibility, Special Papers in International Economics, Princeton, New Jersey: Princeton University Press.
  • Weimann, M. (2003), “OCA Theory and EMU Eastern Enlargement: An Empirical Application”, Deutsche Bank Research Working Paper Series, 8.
  • Willet T. D. (2001), “The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Developments”, Claremont Colleges Working Paper, 2001–04.
Toplam 59 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Itır Özer

Yayımlanma Tarihi 1 Haziran 2007
Gönderilme Tarihi 12 Aralık 2014
Yayımlandığı Sayı Yıl 2007 Cilt: 5 Sayı: 5

Kaynak Göster

APA Özer, I. (2007). Optimum Para Alanları Teorisi. Sosyoekonomi, 5(5). https://doi.org/10.17233/se.31072
AMA Özer I. Optimum Para Alanları Teorisi. Sosyoekonomi. Haziran 2007;5(5). doi:10.17233/se.31072
Chicago Özer, Itır. “Optimum Para Alanları Teorisi”. Sosyoekonomi 5, sy. 5 (Haziran 2007). https://doi.org/10.17233/se.31072.
EndNote Özer I (01 Haziran 2007) Optimum Para Alanları Teorisi. Sosyoekonomi 5 5
IEEE I. Özer, “Optimum Para Alanları Teorisi”, Sosyoekonomi, c. 5, sy. 5, 2007, doi: 10.17233/se.31072.
ISNAD Özer, Itır. “Optimum Para Alanları Teorisi”. Sosyoekonomi 5/5 (Haziran 2007). https://doi.org/10.17233/se.31072.
JAMA Özer I. Optimum Para Alanları Teorisi. Sosyoekonomi. 2007;5. doi:10.17233/se.31072.
MLA Özer, Itır. “Optimum Para Alanları Teorisi”. Sosyoekonomi, c. 5, sy. 5, 2007, doi:10.17233/se.31072.
Vancouver Özer I. Optimum Para Alanları Teorisi. Sosyoekonomi. 2007;5(5).