Meta-analysis of the business cycle correlation between the Euro Area and the CEECs

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 1693

Classification and Topics

• Classification: Wirtschaft ; Business Fluctuations; Cycles ; Classification Discontinued 2008. See C83. ; Foreign Exchange ; Economic Integration
• Subject: monetary union ; optimum currency area ; business cycles ; meta analysis ; Europäische Wirtschafts- und Währungsunion ; Konjunkturzusammenhang ; Schätzung ; Value at Risk ; Osteuropa ; EU-Staaten

Contributors, Location and Time

• Event: Geistige Schöpfung
• (who): Fidrmuc, Jarko ; Korhonen, Iikka
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/19157
• Last update: 10.03.2025, 11:43 AM CET