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Rheinische Friedrich-Wilhelms-Universität Bonn >
Bonn Graduate School of Economics (BGSE), Universität Bonn >
Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/37040
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Enders, Zeno | | en_US |
| dc.contributor.author | | Jung, Philip | | en_US |
| dc.contributor.author | | Müller, Gernot J. | | en_US |
| dc.date.accessioned | | 2009-06-30 | | en_US |
| dc.date.accessioned | | 2010-07-29T10:08:59Z | | - |
| dc.date.available | | 2010-07-29T10:08:59Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/37040 | | - |
| dc.description.abstract | | In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely unchanged. We develop a two-country business cycle model and show that the calibrated model is able to replicate key features of the data prior to and under EMU. We find that the euro has a strong bearing on the transmission mechanism as cross-country spillovers increase substantially under EMU. As a result, foreign shocks become more and domestic shocks less important in accounting for the (unchanged) volatility of macroeconomic fundamentals. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Graduate School of Economics Bonn | | en_US |
| dc.relation.ispartofseries | | Bonn econ discussion papers 2009,6 | | en_US |
| dc.subject.jel | | F41 | | en_US |
| dc.subject.jel | | F42 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | European business cycles | | en_US |
| dc.subject.keyword | | Euro | | en_US |
| dc.subject.keyword | | Optimum Currency Area | | en_US |
| dc.subject.keyword | | EMU | | en_US |
| dc.subject.keyword | | Monetary Policy | | en_US |
| dc.subject.keyword | | Exchange rate regime | | en_US |
| dc.subject.keyword | | Cross-country spillovers | | en_US |
| dc.subject.stw | | Konjunktur | | en_US |
| dc.subject.stw | | Volatilität | | en_US |
| dc.subject.stw | | Europäische Wirtschafts- und Währungsunion | | en_US |
| dc.subject.stw | | Konjunkturzusammenhang | | en_US |
| dc.subject.stw | | Schock | | en_US |
| dc.subject.stw | | Spillover-Effekt | | en_US |
| dc.subject.stw | | EU-Staaten | | en_US |
| dc.title | | Has the euro changed the business cycle? | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 603371981 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
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