We review the literature on business cycle correlation between the euro area and the Central and Eastern European … identified publications suggests some CEECs already have comparably high correlation with the euro area business cycle. We find …

A high degree of cyclical synchronization between central and east European countries (CEECs) and the euro area is … generally seen as a prerequisite for successful EMU enlargement. This paper investigates comovements between CEECs and the euro … large-scale dynamic factor model, we then identify the main structural common euro-area shocks and investigate their …