Lee, Grace H.Y.; Azali, M. - Department of Econometrics and Business Statistics, … - 2009
a monetary union depends, inter alia, on the trade intensity and the business cycle synchronization with other potential … increased trade integration (after the elimination of exchange fluctuations among the countries in the region) on the business … country and therefore resulting in more asymmetry business cycles from industry-specific shocks. On the other hand, increased …