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Business cycle dynamics in the CEE countries: a political economy approach

Adalet, Müge; Öz, Sumru - 2010

This paper uses a simple VAR analysis to examine 5 CEE countries (the Czech Republic, Hungary, Poland, Romania and Slovakia) in order to understand whether their business cycles are synchronized with each other and/or with the major economies that they are supposed to be linked with, namely the...

Persistent link: https://www.econbiz.de/10010273651

Has the Euro changed the Business Cycle?

Enders, Zeno; Müller, Gernot J. - 2010

In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant … able to replicate key features of the data prior to and under EMU.We find that the euro has a strong bearing on the … transmission mechanism as cross-country spillovers increase substantially under EMU. As a result, foreign shocks become more and …

Persistent link: https://www.econbiz.de/10013370079

One Money, One Cycle? The EMU Experience

Gächter, Martin; Riedl, Aleksandra - 2013

cycles among members of Economic and Monetary Union (EMU) which might arise due to the lack of country-specific monetary …

Persistent link: https://www.econbiz.de/10013370103

How Phillips curve dynamics enhance business cycle synchronization analysis in Central and Eastern Europe

Petz, Nico; Zörner, Thomas - 2025

This paper analyzes business cycle synchronization and the Phillips curve (PC) relationship in Central, Eastern, and Southeastern European (CESEE) economies relative to the euro area. We find an overall increase in business cycle synchronicity, particularly among Euro adoption candidates, with...

Persistent link: https://www.econbiz.de/10015407596

The Synchronization of GDP Growth in the G7 during U.S. Recessions. Is this Time Different?

Antonakakis, Nikolaos; Scharler, Johann - 2010

Using the dynamic conditional correlation (DCC) model due to Engle (2002), we estimate time varying correlations of quarterly real GDP growth among the G7 countries. In general, we find that rathe heterogeneous patterns of international synchronization exist during U.S. recessions. During the...

Persistent link: https://www.econbiz.de/10010294906

A simple model of a currency union with endogenous money and saving-investment imbalances

Ehnts, Dirk - 2012

The economic crisis in the euro zone proves that neither the creators of the euro nor today's policy-makers fully understand the functioning of a currency union. Explanations of the macroeconomic relations inside a currency union are therefore in demand. It is now clear that macroeconomic...

Persistent link: https://www.econbiz.de/10010311105

Exchange Rate Variability Inside and Outside the EMU

Bergbom, Lennart - 1998

An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not …

Persistent link: https://www.econbiz.de/10010321810

Imbalances? What imbalances? A dissenting view

Wray, L. Randall - 2012

It is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces unleashed by the...

Persistent link: https://www.econbiz.de/10010286507

An Open Economy New Keynesian Phillips Curve: Evidence from Hong Kong

Genberg, Hans; Pauwels, Laurent L. - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003

This paper extends Galí and Gertlers (1999) new hybrid KeynesianPhillips curve to the open economy context. We hypothesise that pricing decisionsdepend on both labour costs and intermediate imported input prices. The results forHong Kong are consistent with the theory if import prices are...

Persistent link: https://www.econbiz.de/10005858316

Integration, Disintegration and Trade in Europe: Evolution of Trade Relations During the 1990s

Fidrmuc, Jarko; Fidrmuc, Jan - 2000

The gravity model of trade is used to assess the economic consequences of new borders, which arose in the wake of break-ups of multinational federations in Eastern Europe. The intensity of trade relations among the constituent parts of Czechoslovakia, Soviet Union and the Baltics was very high...

Persistent link: https://www.econbiz.de/10013369959