Where Do the Newest EU Member States Stand on the Road to Monetary Integration?
AbstractThe present study sheds light on important aspects of monetary integration in the European Union involving the newest member states. It assesses the degree to which they satisfy the business cycle correlation criteria. Our results demonstrate that there is a common business cycle in the Euro area and that most of the candidate countries exhibit convergence with this group, with the remarkable exception of Estonia, Lithuania, Slovakia and Romania. Bulgaria shows better achievements than Romania in terms of business cycle synchronization with the Euro zone.This paper was presented at the 18th International Conference of the International Trade and Finance Association meeting at Universidade Nova de Lisboa, Lisbon, Portugal, on May 23, 2008.
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Bibliographic InfoPaper provided by International Trade and Finance Association in its series International Trade and Finance Association Conference Papers with number 1121.
Date of creation: 06 Aug 2008
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-22 (All new papers)
- NEP-EEC-2009-03-22 (European Economics)
- NEP-MAC-2009-03-22 (Macroeconomics)
- NEP-MON-2009-03-22 (Monetary Economics)
- NEP-OPM-2009-03-22 (Open Economy Macroeconomic)
- NEP-TRA-2009-03-22 (Transition Economics)
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- Tatomir, Cristina F. & Alexe, Ileana, 2011. "Laggards or performers? CEE vs. PIIGS countries’ catch-up with the Euro area in the last ten years," MPRA Paper 35715, University Library of Munich, Germany.
- Cristina Tatomir & Ileana Alexe, 2011. "Romania: Climbing The Ladder For A Better Future. When Will It Reach Eu And Euro Area?," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 192-196, December.
- Tatomir, Cristina F., 2011. "Structural Convergence of the Central and Eastern European Countries: Achivements in the Last Decade," MPRA Paper 35701, University Library of Munich, Germany.
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