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Essay Available:
Pages:
10 pages/β‰ˆ2750 words
Sources:
1 Source
Style:
APA
Subject:
Mathematics & Economics
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 51.84
Topic:

United States as an Optimal Currency Area (OCA)

Research Paper Instructions:

The research project will consist of a ten-page (double-spaced) paper discussing a topic of your choice. The topic could be related to course material or could discuss another international trade/finance topic. The paper should follow the basic structure: I. The paper should start with a short introduction/motivation section. Why should anyone care about your topic? Here talk about specifics, current events, politics, etc. (~1.5 pgs). Be sure to establish a clear thesis (argument/focus) and lay out preliminary support you will reference throughout the next section. - Use sources from reputable publications here (NY Times, Wall Street Journal, Economist, etc) II. Next, you are expected to review the major contributions on the topic and the current state of the literature, citing at minimum five sources scholarly sources. This should be the bulk of your paper (~6-8 pgs). It is a literature review of your topic. If you have a specific topic (e.g. a specific trade deal, etc) then be sure to generalize your topic for this section. So if you were discussing NAFTA or Brexit, you would want to discuss recent literature on free trade agreements/areas for the literature review. Here you want to discuss general theories on your topic so that you can establish the necessary economic relationships. - Use scholarly sources here (Journal Articles, Federal Reserve, IMF or NBER Studies, etc) III. Extension. You just reviewed the literature on a specific subject. Here you should suggest an extension to the current literature (~.5-1 pgs). What is missing from the literature you reviewed (could be a new data set, case study, research methodology)? IV. Conclusion. Wrap it up. Tie together the support presented above to call back to main thesis (~ .5 pg). V. Reference Section that links to in-text citations. Use any citation format you choose (APA, MLA, etc), just be consistent throughout the paper. If you choose to, you can simply footnote within the text and forego this section.

Research Paper Sample Content Preview:


United States as an Optimal Currency Area (OCA)
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United States as an Optimal Currency Area (OCA)
Introduction
The central concept for discussion is the Optimal Currency Area (OCA). The concept has gained significant attention in international trade and finance. Evolution continues to be evident at the global economy level, and the relevance of OCAs in the United States of America is growing. The concept holds great importance and relevance in improving the country's financial stability. Therefore, this research explores whether the United States of America qualifies as an optimal currency area. It is essential to analyze specific factors to understand them; the current events and economic realities will help strengthen this assignment (Drossart-Demond, 2022). There is relevance to the discussion in the contemporary world. Ongoing debates exist regarding monetary unions' efficacy and implications when dealing with shared currency. Understanding whether the United States aligns with the OCA framework is crucial. After this paper, it will become evident whether the US is an optimal currency state or whether there are various economic dimensions, regional disparities, and overarching impacts in policymaking.
The US Economy and Optimal Currency Area Criteria
To understand whether the United States meets the criteria of OCA, it is crucial to understand the specific components that define the framework and guide learning about the OCA. The first aspect is Labor mobility, whereby there is an analysis of the extent to which labor mobility is present within the United States. Examining how freely workers are in the economy and how they can move between states to find employment and implications.
Fiscal transfers are another parameter worth investigating. In this concept, the aim involved investigating mechanisms connected to fiscal transfer within the United States of America. These include federal government programs and initiatives that would work towards mitigating regional economic disparities.
The other aspect is price and wage flexibility, whereby evaluating the flexibility of the prices and wages in different states in the United States is essential. This analysis shows their role and capacity to adjust to economic shocks without facing challenges in currency devaluations. In this process, there is a need to assess similar business cycles, which allows for the study of the synchronization of business cycles and finances. It is important because it assesses overall coherence in economic conditions and growth rates. An examination of labor mobility, fiscal transfers, price and wage flexibility, and business cycle synchronization helps to understand why the United States of America is not aligned with the OCA standards as a country.
Review of Major Contributions to the Topic
Recent Events and Their Implications
The recent economic events and policy decisions within the United States have shown disparities that challenge their status as a country for optimal currency a...

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