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This paper studies the process of business cycle synchronization in the European Union and the euro area. As our … in the core and peripheral members of the euro area. Our analysis of quarterly data covering the first two decades of the … euro area shows that there was a certain synchronization tendency in the first years of the common currency. However, the …
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able to replicate key features of the data prior to and under EMU. We find that the euro has a strong bearing on the … cycles ; Euro ; Optimum Currency Area ; EMU ; Monetary Policy ; Exchange rate regime ; Cross-country spillovers …
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