The main contribution of the paper is to identify the socio economic characteristics that affect the perception of the euro across the original 12 Euro Area countries by specifying and estimating a multilevel multinomial model for polytomous data. The analysis is based on the Flash Eurobarometer...

This paper shows that the EMU has not affected historical characteristics of member countries’ business cycles and their cross-correlations. Member countries which had similar levels of GDP percapita in the seventies have also experienced similar business cycles since then and no significant...