Shocks to New and Old Europe: How Symmetric?

Strong symmetry of shocks allows for the formation of a monetary union with low costs due to losing monetary sovereignty. I employ vector autoregression to identify structural shocks and study their symmetry through time. I find that the underlying structural shocks have not changed significantly and remain rather asymmetric, particularly demand shocks. Copyright (c) 2009 The Author(s). Journal compilation (c) 2009 Blackwell Publishing Ltd.

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Year of publication:	2009
Authors:	MIKEK, PETER
Published in:	Journal of Common Market Studies. - Wiley Blackwell, ISSN 0021-9886. - Vol. 47.2009, 09, p. 811-830
Publisher:	Wiley Blackwell

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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