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Contrary to what happened in the Seventies, when the parallel currency approach to monetary integration in Europe turned out to be the winning strategy to assist the political decision by Germany and France to revitalize an agonizing integration process, a similar proposal officially made by the...
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synchronization (BCS) in the EU. We estimate the effects of market integration and economic policy coordination on bilateral business … positive effect on BCS, particularly between incumbent and new EU members. (2) Rising specialization does not decouple business … cycles. (3) The decline of income disparities in EU27 contributes to BCS, as converging countries develop stronger trade and …
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