The endogeneity of optimum currency area criteria in the context of financial crisis: Evidence from the time-frequency domain analysis

Svatopluk Kapounek and Jitka Poměnková
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Jitka Poměnková: Department of Radio Electronics, Faculty of Electrical Engineering and Communication, Brno University of Technology, Brno, Czech republic

Agricultural Economics, 2013, vol. 59, issue 9, 389-395

Abstract: We provide the wavelet analysis of the economic cycle synchronization during the recent financial crisis. However, the global financial crisis caused economic cycles in most European countries to become more strongly synchronized without increasing of the real convergence process. Our contribution is an application of the singular value decomposition to identify and remove the long-term trend including outliers appearing in the year 2007-2010. We found that the historically greater integration provides more highly synchronized cycles in the core Euro area member countries.

Keywords: Euro area; singular value decomposition; synchronization; wavelet analysis (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: The Endogeneity of Optimum Currency Areas Criteria in the Context of Financial Crisis: Evidence from Time-Frequency Domain Analysis (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:caa:jnlage:v:59:y:2013:i:9:id:9-2013-agricecon

DOI: 10.17221/9/2013-AGRICECON

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