Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009
relations between national cycles over the last forty years. Having
formed a view on these features for a sufficiently long … establishment of the EMU helps identify broader economic relations without having to
define a complex model. Finally, amongst real … asks whether
intra euro area relations have changed since the EMU.
The model is a VAR on output per capita of twelve …