have posted higher average growth and wider output fluctuations than the euro area and other EU countries. Second, a set of … different methodologies suggests that business cycles of accession countries have been less synchronised with the euro area than … than the euro area "peripherals" (Greece, Portugal and Ireland). Moreover, synchrony differed across countries. Some …

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the … process towards higher integration has been primarily a phenomenon of equity markets in the euro area and the United States. …