Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/213138 
Year of Publication: 
2017
Citation: 
[Journal:] Intereconomics [ISSN:] 1613-964X [Volume:] 52 [Issue:] 4 [Publisher:] Springer [Place:] Heidelberg [Year:] 2017 [Pages:] 238-241
Publisher: 
Springer, Heidelberg
Abstract: 
A high degree of correlation among the business cycles of individual countries is usually seen as a key criterion for an optimum currency area. However, the elasticity with which countries react to the common cycle is equally important. A country with a non-unitary growth elasticity relative to the common area will experience cyclical divergences at the peak and trough of the common cycle. Despite being characterised by highly correlated business cycles, the euro area suffers from widely differing amplitudes.
Persistent Identifier of the first edition: 
Document Type: 
Article

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