Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19157
Authors: 
Fidrmuc, Jarko
Korhonen, Iikka
Year of Publication: 
2006
Series/Report no.: 
CESifo Working Paper 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

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