Is there Really a European Business Cycle?

In this paper we argue that in contrast to the conclusion of Artis and Zhang, there is not much evidence in support of the view that increased exchange rate stability is related to more synchronised business cycles in Europe. This finding may have important consequences, as existing differences in business cycles in the EMU-countries may not disappear due to further monetary integration, making a common monetary policy hazardous.

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Year of publication:	2000
Authors:	Inklaar, Robert ; de Haan, Jakob
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Business cycles \| ERM \| EMU

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Series:	CESifo Working Paper ; 268
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	757230571 [GVK] hdl:10419/75675 [Handle] RePec:ces:ceswps:_268 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010315037