A meta-analysis of business cycle correlation between the euro area and CEECs: What do we know - and who cares?

Arbeitspapier

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.

Object Details

• ISBN: 951-686-983-1
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: BOFIT Discussion Papers ; No. 20/2004

Classification and Topics

• Classification: Wirtschaft ; Classification Discontinued 2008. See C83. ; Business Fluctuations; Cycles ; Economic Integration ; Foreign Exchange
• Subject: monetary union ; optimum currency area ; business cycles ; meta- analysis

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Fidrmuc, Jarko ; Korhonen, Iikka
• Event: Veröffentlichung
• (who): Bank of Finland, Institute for Economies in Transition (BOFIT)
• (where): Helsinki
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/212550
• Last update: 10.03.2025, 11:45 AM CET