Characterizing macroeconomic shocks in the CEECs

Oscar Bajo-Rubio () and Carmen Diaz-Roldan

No 05-12, Working Papers on International Economics and Finance from FEDEA

Abstract: In this paper we analyze the nature of the shocks hitting the CEECs over the recent years. To this end, we first evaluate the relative importance of symmetric vs. asymmetric shocks, and then extract their temporary component. Our final aim would be assessing the vulnerability of the CEECs to temporary and asymmetric shocks, which would be the most harmful case for the operation of a monetary union. Finally, a comparison with the case of the current EMU members is also presented.

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Related works:
Journal Article: Characterizing macroeconomic shocks in the CEECs (2005)
Working Paper: CHARACTERIZING MACROECONOMIC SHOCKS IN THE CEECs (2005)
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