Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009
This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and … similar business cycles since then and no significant change associated with the EMU can be detected. For the other countries … up to the ECB creation at the end of 1998, they find a lot of commonalities
in the response of EMU countries to German …