Endogenous Optimum Currency Areas and the Blend of Sectors – On the Determinants of Business Cycle Correlation across European Regions
AbstractThis paper examines the degree of correlation of EU regional employment cycles and attempts to show whether these cycles reflect changing patterns of specialisation. By focusing on the regional level and by employing three different indicators of similarity of sectoral structure, it improves on existing studies. A dynamic panel data model is estimated for region pairs by within groups, i.e., by a standard fixed effects estimator. Special attention is paid to capture the rich dynamics which is typical of employment data. The key finding is that employment growth is more synchronised when regions look alike in their sectoral structure. The empirical results again highlight the problem of a common monetary policy for uncommon regions within the euro zone.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.
Volume (Year): 22 (2007)
Issue (Month): ()
Regional Employment; European Union; Regional Business Cycles; Specialisation; Synchronicity;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- F15 - International Economics - - Trade - - - Economic Integration
- R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Fabrizio Carmignani, 2010.
"Endogenous Optimal Currency Areas: the Case of the Central African Economic and Monetary Community,"
Journal of African Economies,
Centre for the Study of African Economies (CSAE), vol. 19(1), pages 25-51, January.
- Fabrizio Carmignani, 2009. "Endogenous optimal currency areas: The case of the Central African Economic and Monetary Community," Discussion Papers Series 390, School of Economics, University of Queensland, Australia.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jong-Eun Lee).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.