Meta-Analysis of the Business Cycle Correlation between the Euro Area and the CEECs

Jarko Fidrmuc and Iikka Korhonen

No 1693, CESifo Working Paper Series from CESifo

Abstract: We review the literature on business cycle correlation between the euro area and the Central and Eastern European countries (CEECs), a topic that has gained attention as the newest EU members approach monetary union. Our meta-analysis of 35 identified publications suggests some CEECs already have comparably high correlation with the euro area business cycle. We find that estimation methodologies can have a significant effect on correlation coefficients. While CEEC central bankers tend to be more conservative in their estimates than academics or eurosystem researchers, we find no evidence of a geographical bias in the studies.

Keywords: monetary union; optimum currency area; business cycles; meta analysis (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-eec, nep-mac and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (236)

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Journal Article: Meta-analysis of the business cycle correlation between the euro area and the CEECs (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1693

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