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Title:Meta-analysis of the business cycle correlation between the Euro Area and the CEECs PDF Logo
Authors:Fidrmuc, Jarko
Korhonen, Iikka
Issue Date:2006
Series/Report no.:CESifo working papers 1693
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 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.
Subjects:monetary union
optimum currency area
business cycles
meta analysis
JEL:E32
C42
F31
F15
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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