BUSINESS CYCLE SYNCHRONIZATION IN THE EURO AREA

Ioana Laura Valeanu ()
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Ioana Laura Valeanu: Alexandru Ioan Cuza University of Iasi, Romania

CES Working Papers, 2012, vol. 4(3), issue 3, 429-440

Abstract: Business cycle synchronization represents a condition for the successful implementation of the common monetary policy within the Economic and Monetary Union. There is a tight relation between business cycle synchronization and the economic convergence of the Member States of the Monetary Union. Investigating the specialized literature, this study analyses below the factors which influence the synchronization of the economic fluctuations of the economies in the Euro area. A second objective of this study is represented by the pointing out of the evolution of the synchronization process of the business cycle after the adoption of the euro, in the euro area countries by reference to the empiric evidence. The hypothesis of the study states that the introduction of the unique currency in 1999 resulted into the increase of the synchronization degree of the business cycle.

Keywords: business cycle; synchronization; economic convergence; Monetary Union; euro area Romania (search for similar items in EconPapers)
JEL-codes: E32 F36 F44 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:jes:wpaper:y:2012:v:4:i:3:p:429-440

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