Vulnerabilities in Central and Eastern European countries: Dynamics of asymmetric shocks

Aleksandra Zdzienicka ()

No 917, Working Papers from Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon

Abstract: In this work, we use the VAR and space-state methodology to analyze how the recent developments in 20 European countries have modified the dynamics of structural shocks. Our results confirm a visible progress in (predominated output fluctuations) supply shocks convergence between the CEECs and the euro zone, but also corroborate a positive initial impact of EMU creation and EU enlargement supply shocks correlation. In particular, we find that Croatia, Poland, Slovakia and Slovenia are good candidates to the euro adoption under condition of greater fiscal policy alignment.

Keywords: segregation; Schelling; potential function; coordination; tax; vote (search for similar items in EconPapers)
JEL-codes: C63 C72 C73 D62 J15 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2009
New Economics Papers: this item is included in nep-eec and nep-tra
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Vulnerabilities in Central and Eastern European countries: Dynamics of asymmetric shocks (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:gat:wpaper:0917

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