Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009
This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and … there is no sign of catching up or of further widening. -- Euro area ; International Business Cycle ; European Monetary … their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced …