Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71111
Authors: 
Caporale, Guglielmo Maria
De Santis, Roberta
Girardi, Alessandro
Year of Publication: 
2013
Series/Report no.: 
DIW Discussion Papers 1277
Abstract: 
Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results support the specialisation paradigm rather than the endogeneity hypothesis. Evidence is found in the euro period of diverging patterns between the core and the peripheral EMU countries raising questions about the future stability of EMU.
Subjects: 
output synchronisation
trade intensity
endogeneity
European Monetary Union (EMU)
JEL: 
F10
F15
F17
F4
Document Type: 
Working Paper

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