Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5092669 | Journal of Comparative Economics | 2006 | 20 Pages |
Abstract
We review the literature on business cycle correlation between the euro area and the Central and Eastern European countries (CEECs), a topic that has gained attention as the newest EU members approach monetary union. Our meta-analysis of 35 identified publications suggests that some CEECs already have comparably high correlation with the euro area business cycle. We find that estimation methodologies can have a significant effect on correlation coefficients. While CEEC central bankers tend to be more conservative in their estimates than academics or eurosystem researchers, we find no evidence of a geographical bias in the studies. Journal of Comparative Economics 34 (3) (2006) 518-537.
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Authors
Jarko Fidrmuc, Iikka Korhonen,