Meta-analysis of the business cycle correlation between the Euro Area and the CEECs

We review the literature on business cycle correlation between the euro area and the Central and Eastern European countries (CEECs), a topic that has gained attention as the newest EU members approach monetary union. Our meta-analysis of 35 identified publications suggests some CEECs already have comparably high correlation with the euro area business cycle. We find that estimation methodologies can have a significant effect on correlation coefficients. While CEEC central bankers tend to be more conservative in their estimates than academics or eurosystem researchers, we find no evidence of a geographical bias in the studies.

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Year of publication:	2006
Authors:	Fidrmuc, Jarko ; Korhonen, Iikka
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Europäische Wirtschafts- und Währungsunion \| Konjunkturzusammenhang \| Schätzung \| Value at Risk \| Osteuropa \| EU-Staaten \| monetary union \| optimum currency area \| business cycles \| meta analysis

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Series:	CESifo Working Paper ; 1693
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	510038425 [GVK] hdl:10419/19157 [Handle]
Classification:	E32 - Business Fluctuations; Cycles ; C42 - Survey Methods ; F31 - Foreign Exchange ; F15 - Economic Integration
Source:	EconStor

Persistent link: https://www.econbiz.de/10010261431