This paper tests the endogeneity hypothesis of OCA criteria (Frankel and Rose, 1998) in a cross-section of OECD countries between 1990 and 1999. It is shown that intraindustry trade actually causes the convergence of business cycles, while there is no direct relation between business cycles and...

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...

Am 1. Januar wird Slowenien als 13. Mitglied der Europäischen Währungsunion beitreten. Bulgarien und Rumänien werden zum gleichen Zeitpunkt neue Mitglieder der EU, so dass die Anzahl der potentiellen Eurokandidatenländer auf 14 anwachsen wird. Welche Auswirkungen sind von der Erweiterung der...

This paper analyses the rapid trade integration of the Central and Eastern European countries (CEECs) with the euro area in the past ten years and draws implications for further integration. We use as benchmark an enhanced gravity model estimated for a large sample of bilateral trade flows...