three Economic and Monetary Union (the Euro Zone = EZ-15), namely (1999) Belgium, Germany, Spain, France, Ireland, Italy … this paper was to investigate whether the Euro Zone was an Optimum Currency Area (OCA) base on an economics. The economic … examine an economic convergence criteria in the Maastricht Treaty (the Euro Adoption Criteria) i.e. five (5) nominal economic …

We assess the correlation of supply and demand shocks between current countries in the euro area and EU accession … euro area and acceding counties. We find that several acceding countries have a quite high correlation of underlying shocks … with the euro area and conclude that continuing integration within the EU is likely to align the business cycles of these …

phase angle is illustrated with a scale-dependent examination of business cycle synchronization between 11 euro zone member … countries. The study is supplemented with wavelet analysis of variance and covariance of the euro zone business cycles. The … wavelet evidence on dating the Great Moderation in the euro zone …

potential magnitude of adjustment they face to euro-block membership, using the instrumental variable (IV) method, applying … adjustment for its members. The current membership of other countries in the euro-block is potentially very demanding on their …'s credibility gains against its adjustment costs, Finland, Greece, Italy, Portugal and Spain seem like unstable members of the euro …