Evroobmočje skozi prizmo optimalnega valutnega območja
DOI:
https://doi.org/10.55707/eb.v13i1.162Ključne besede:
optimalno valutno območje, evroobmočje, Evropska monetarna unija, Maastrichtski kriteriji, konvergenca, asimetrični šoki, fiskalna integracija, sinhronizacija gospodarskih ciklov, endogenost, indeks OCA, ekonomska integracijaPovzetek
Članek analizira evroobmočje skozi prizmo teorije optimalnega valutnega območja (OCA). Glavni namen je oceniti, v kolikšni meri evroobmočje izpolnjuje širše kriterije OCA, kot so mobilnost dela, fleksibilnost cen in plač, fiskalna integracija ter podobnost gospodarskih ciklov. Z metodo kronološke meta-analize empiričnih študij in analizo EMU-specifičnega OCA indeksa avtor ugotavlja, da evroobmočje kljub visoki stopnji trgovinske integracije in diverzifikacije proizvodnje ne izpolnjuje številnih ključnih kriterijev. Pomanjkanje učinkovitih prilagoditvenih mehanizmov, zlasti ob asimetričnih šokih, predstavlja glavno ranljivost. Študija poudarja institucionalno neravnovesje med centralizirano monetarno politiko in decentralizirano fiskalno politiko ter omejeno politično integracijo. V sklepu članek predlaga dopolnitev obstoječih Maastrichtskih konvergenčnih kriterijev z novimi merili, ki bi bolj celovito presojala pripravljenost potencialnih držav kandidatk za vstop v evroobmočje. Predlagana dopolnila vključujejo merila za sinhronizacijo gospodarskih ciklov, oceno fiskalne kapacitete za blaženje šokov ter stopnjo tržne in institucionalne fleksibilnosti.
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