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 …

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 …

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 …

.4 before the introduction of the euro in 1999 to 0.6 afterwards; (2) this increase occurred in both euro and non-euro countries … suggest the euro accounted for approximately half of the observed increase in synchronisation …