This paper studies the process of business cycle synchronization in the European Union and the euro area. As our baseline methodology we adopt rolling window correlation coefficients of various economic indicators, observed since 2000. Among the indicators, we distinguish between real economic...

Mit der Einheitlichen Europäischen Akte hatte sich die Europäische Gemeinschaft die Verwirklichung des Binnenmarktes als 'Raum ohne Binnengrenzen' bis zum 31. Dezember 1992 zum Ziel gesetzt. Die Vollendung des Binnenmarktes war zwar im EWG-Vertrag von 1957 bereits angelegt, es waren und sind...

This paper studies the process of business cycle synchronization in the European Union and the euro area. As our baseline methodology we adopt rolling window correlation coefficients of various economic indicators, observed since 2000. Among the indicators, we distinguish between real economic...

In 1992 the European Single Market was to have been completed. But there is still no truly integrated market in many fields — the EC has to overcome many obstacles yet to make this happen. Based on different EU integration indexes, it is shown that internal market integration has developed...