Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/212550
Authors: 
Fidrmuc, Jarko
Korhonen, Iikka
Year of Publication: 
2004
Series/Report no.: 
BOFIT Discussion Papers No. 20/2004
Abstract: 
We review the literature on business-cycle correlation between the euro area and Central and Eastern European countries (CEECs), a topic that has gained attention in recent years as new EU entrants prepare for participation in the monetary union.Our meta-analysis suggests several CEECs already have comparably high correlation with the euro area business cycle.We also find that estimation methodologies can have a significant effect on correlation coefficients.While central bankers are more conservative in their estimates, we find no evidence of a geographical bias in the studies.
Subjects: 
monetary union
optimum currency area
business cycles
meta- analysis
JEL: 
C42
E32
F15
F31
Persistent Identifier of the first edition: 
ISBN: 
951-686-983-1
Document Type: 
Working Paper

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