 How Symmetric Are the Shocks and the Shock Adjustment Dynamics Between the Euro Area and Central and Eastern European Countries?Michael Frenkel and Christiane Nickel No 2002/222, IMF Working Papers from International Monetary Fund Abstract: In this paper, we use a structural vector autoregression model to identify and compare demand and supply shocks between euro area countries and central and eastern European countries (CEECs). The shocks and the shock adjustment dynamics of these countries are also compared to EU countries that currently do not participate in the EMU. Focusing on the period 1993-2001, we find that there are still differences in the shocks and in the adjustment process to shocks between the euro area and the CEECs. However, several individual CEECs exhibit shocks and shock adjustment processes that are fairly similar to some euro area countries. Keywords: WP; EU country; EMU country; country; central and eastern European country; European monetary integration; international monetary arrangements and institutions; countries of the EU; EMU economy; supply and demand demand shock; EMU member; EMU EU country; demand and supply shock; EU member; EMU candidate; Supply shocks; Inflation; Monetary unions; Vector autoregression; Business cycles; Europe; Western Europe (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2002/222 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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