Similarity of supply and demand shocks between the euro area and the accession countries

Jarko Fidrmuc · Iikka Korhonen

28 citations0/0 files storedRePEc: Research Papers in Economics

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Global Financial Crisis and Policies Market Dynamics and Volatility

Abstract

We assess the correlation of supply and demand shocks between the euro area, the EU accession countries and also the present EU countries.Shocks are recovered from estimated structural vector autoregressive models.We find that some advanced accession countries have quite high correlation with the euro area.However, even for many high income accession countries the degree of correlation remains low.Also, in the 90s many EU countries seemed to have much higher correlation with the core euro area countries than in previous decades.Continuing integration within the EU seems to have aligned business cycles of the countries as well. Keywords: optimal currency area, monetary union, EU enlargement JEL classification numbers: E32, F42

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 28 citations exist upstream.

References

1961A Theory of Optimum Currency Areas 1988The Dynamic Effects of Aggregate Demand and Supply Disturbances 1993Shocking aspects of European monetary integration 1998Economic Convergence of the CEECs with the EU 2001The convergence of monetary policy between candidate countries and the European Union

Cited by

2007Economic Convergence Between the CEE-8 and the European Union 2004Comparing Economic Dynamics in the EU and CEE Accession Countries 2003The Euro at Stake? The Monetary Union in an Enlarged Europe 2007How to Be Well Shod to Absorb Shocks? Shock Synchronization and Joining the Euro Zone 2002Alternative Options for the Monetary Integration of Central and Eastern European EU Accession Countries 2002Nominal and real stochastic convergence within transition economies and to the European Union: Evidence from panel data

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.