Asymmetric Shocks Inside Future EMU

In this paper, we focus on the issue of shocks asymmetries in the future Euro - pean Monetary Union. Relying on the technique of codependence developed by Gouriéroux and Peaucelle [1989, 1993], we propose a new method which, unlike the analysis of Bayoumi and Eichengreen [1992], does not require any arbitrary restrictions. As a whole, our results support the idea of a two-speed Europe.

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Year of publication:	1997
Authors:	Beine, Michel ; Hecq, Alain
Published in:	Journal of Economic Integration. - Department of Economics and Trade. - Vol. 12.1997, p. 131-140
Publisher:	Department of Economics and Trade
Subject:	Asymmetric \| Shocks

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Type of publication:	Article
Classification:	C22 - Time-Series Models ; F33 - International Monetary Arrangements and Institutions ; F42 - International Policy Coordination and Transmission
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010840686