Fidrmuc, Jarko; Korhonen, Iikka - In: Comparative economic studies 46 (2004) 1, pp. 45-62
We assess the correlation of supply and demand shocks between current countries in the euro area and European Union (EU) accession candidates from 1993/1995 to 2002. Supply and demand shocks are recovered from estimated structural vector autoregressive models of output growth and inflation....