Eickmeier, Sandra (contributor) - 2006
This paper seeks to assess comovements and heterogeneity in the euro area by fitting a nonstationary dynamic factor … model (Bai and Ng, 2004), augmented with a structural factor setup (Forni and Reichlin, 1998), to a large set of euro … transmission to individual EMU countries. Our most important findings are the following. EMU countries share five common trends …