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Asymetric growth and inflation developments in the acceding countries: a new assessment
Ide, Stefaan; Moës, Philippe - Nationale Bank van België/Banque national de Belqique (BNB) - 2004
In this paper, we use a SVAR model in order to study the asymmetry of growth and inflation developments in the acceding … growth or inflation divergence, rather than the distinct way in which acceding countries react to euro area shocks. But … responsible for inflation asymmetry. Hence, a low asymmetry in terms of growth does not necessarily imply a low asymmetry in terms …
Persistent link: https://www.econbiz.de/10005060087
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SYNCHRONIZATION OF ECONOMIC SHOCKS IN THE VISEGRAD GROUP: AN EMPIRICAL ASSESSMENT
BECK, KRZYSZTOF; JANUS, JAKUB - In: JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA (2014)
The main goal of the paper is to assess a degree of coherence of macroeconomic shocks in the Visegrad Group (Czech Republic, Hungary, Poland and Slovak Republic, collectively: V4). We set out to consider the historical decomposition of unobservable supply and demand disturbances among V4...
Persistent link: https://www.econbiz.de/10010925391
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Monetary Integration in East Asia: An Empirical Approach
de Brito, José Brandão - In: Journal of Economic Integration 19 (2004), pp. 536-567
This paper investigates empirically the economic feasibility of monetary integration in East Asia. A structural VAR model is employed to decompose real output, real exchange rate and price level into a lagged polynomial of supply, demand and monetary shocks. The shocks are identified through the...
Persistent link: https://www.econbiz.de/10009364790
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Some empirical tests on the integration of economic activity between the euro area and the accession countries
Korhonen, Iikka - EconWPA - 2002
This note looks ata the correlation of short-term business cycles in the euro area and the Eu accession countries. This issue is assessed with the help of vector autoregressive models. There are clear differences in the degree of correlation between acces-sion countries. For Hungary and...
Persistent link: https://www.econbiz.de/10005076777
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Some empirical tests on the integration of economic activity between the Euro area and the accession countries
Korhonen, Iikka - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2001
This note looks at the correlation of short-term business cycles in the euro area and the EU accession countries. The issue is assessed with the help of vector autoregressive models. There are clear differences in the degree of correlation between accession countries. For Hungary and Slovenia,...
Persistent link: https://www.econbiz.de/10005771105
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The endogeneity approach of the theory of optimum currency areas: what does it mean for ASEAN + 3?
Löchel, Horst; Baumann, Stefan - Frankfurt School of Finance and Management - 2006
The paper analyzes if and how the experiences of European integration can be used for the progress of East Asia integration especially of the ASEAN+3 countries1. Of special interest is the relevance of the new endogeneity approach of monetary integration for East Asia. The question is discussed...
Persistent link: https://www.econbiz.de/10005026947
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The Impact of a Common Currency on East Asian Production Networks and China’s Exports Behavior
Rahman, Mizanur - Volkswirtschaftliche Fakultät, … - 2008
Vertical fragmentation of product value chain across borders is the driving force of growing economic interdependency in East Asia. A common currency, not flexible exchange rates between national currencies, would reduce flexibility in relative prices within East Asia. Its impact would be far...
Persistent link: https://www.econbiz.de/10005621422
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Western Balkan Countries: Adjustment Capacity to External Shocks, with a Focus on Labour Markets
Gligorov, Vladimir; Iara, Anna; Landesmann, Michael; … - Wiener Institut für Internationale … - 2008
The main question addressed in this study is the performance of the labour markets in the Western Balkans. The aim is to find out whether they can deliver growth of employment and decline of unemployment in the medium run and whether they can withstand short-term shocks due to changes in demand...
Persistent link: https://www.econbiz.de/10005695390
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Trade Flows, Financial Linkage, and Business Cycles in Latin America
Kandil, Magda - In: Journal of Economic Integration 26 (2011), pp. 526-553
This paper studies co-movements in real output growth across countries of Latin America in the sample period 1970-2007. To detect the change over time, correlations in real growth are analyzed over two sub-samples: 1970-1986 and 1987-2007. Correlation coefficients detect co-movements in real...
Persistent link: https://www.econbiz.de/10009421198
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Business cycle synchronization and vertical trade integration: A case study of the Eurozone and East Asia
Saiki, Ayako; Kim, Sunghyun Henry - de Nederlandsche Bank - 2014
theoretical ambiguity on the relationship. Based on their finding, they claimed that the Eurozone's optimal currency criteria (OCA …) can be satisfied ex-post. In this paper, we first investigate whether the Eurozone exhibits more synchronized business … synchronization using the data of two sets of countries, Eurozone and East Asia that have been going through distinctively different …
Persistent link: https://www.econbiz.de/10010757278