Belke, Ansgar; Domnick, Clemens; Gros, Daniel - In: Intereconomics : review of European economic policy 52 (2017) 4, pp. 238-241
trough of the common cycle. Despite being characterised by highly correlated business cycles, the euro area suffers from …A high degree of correlation among the business cycles of individual countries is usually seen as a key criterion for … an optimum currency area. However, the elasticity with which countries react to the common cycle is equally important. A …