A meta-analysis of business cycle correlation between the euro area and CEECs : What do we know - and who cares?

Show full item record

Title: A meta-analysis of business cycle correlation between the euro area and CEECs : What do we know - and who cares?
Author: Fidrmuc, Jarko ; Korhonen, Iikka
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 20/2004
Year of publication: 2004
Publication date: 5.12.2004
Published in: Published in Journal of Comparative Economics, Vol.34, No.3 (2006), pp. 518-537
Pages: 32 s.
Keywords: euroalue; suhdanteet; KIE; valuuttaunionit; rahaliitot; Bofit-kokoelma; korrelaatio; optimaalinen valuutta-alue; uudet EU-maat
JEL: C42; E32; F15; F31
Abstract: We review the literature on business-cycle correlation between the euro area and Central and Eastern European countries (CEECs), a topic that has gained attention in recent years as new EU entrants prepare for participation in the monetary union.Our meta-analysis suggests several CEECs already have comparably high correlation with the euro area business cycle.We also find that estimation methodologies can have a significant effect on correlation coefficients.While central bankers are more conservative in their estimates, we find no evidence of a geographical bias in the studies.JEL-Numbers: C42, E32, F15, F31.Key words: monetary union, optimum currency area, business cycles, meta- analysis.
Note: Ilm. myös Center for economic studies ; IFO Institute ; CESifo working paper Sarjanumero: 1693
Rights: https://helda.helsinki.fi/bof/copyright


Files in this item

Total number of downloads: Loading...

Files Size Format View
116224.pdf 187.1Kb PDF View/Open

This item appears in the following Collection(s)

Show full item record