Core and Periphery in the European Monetary Union: Bayoumi and Eichengreen 25 Years Later

Nauro Campos and Corrado Macchiarelli

LEQS – LSE 'Europe in Question' Discussion Paper Series from European Institute, LSE

Abstract: Bayoumi-Eichengreen (1993) establish a EMU core-periphery pattern using 1963-1988 data. We use same methodology, sample, window length (1989-2015), and a novel over-identifying restriction test to ask whether the EMU strengthened or weakened the core-periphery pattern. Our results suggest the latter.

Keywords: Business cycle synchronization; Structural VAR; European Monetary Union; Core-periphery (search for similar items in EconPapers)
JEL-codes: E32 E63 F02 (search for similar items in EconPapers)
Date: 2016-09
New Economics Papers: this item is included in nep-eec, nep-his, nep-mac, nep-opm and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (50)

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Related works:
Journal Article: Core and Periphery in the European Monetary Union: Bayoumi and Eichengreen 25 years later (2016)
Working Paper: Core and periphery in the European Monetary Union: Bayoumi and Eichengreen 25 years later (2016)
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