Vulnerabilities in Central and Eastern European countries: Dynamics of asymmetric shocks
AbstractIn this work, we use the VAR and space-state methodology to analyze how the recent developments in 20 European countries have modified the dynamics of structural shocks. Our results confirm a visible progress in (predominated output fluctuations) supply shocks convergence between the CEECs and the euro zone, but also corroborate a positive initial impact of EMU creation and EU enlargement supply shocks correlation. In particular, we find that Croatia, Poland, Slovakia and Slovenia are good candidates to the euro adoption under condition of greater fiscal policy alignment.
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Date of creation: 2009
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Structural Shocks; CEECs; VAR model; Kalman filter; Euro Adoption;
Other versions of this item:
- Aleksandra Zdzienicka, 2009. "Vulnerabilities in Central and Eastern European countries : Dynamics of asymmetric shocks," Working Papers 0917, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure.
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-09-11 (All new papers)
- NEP-EEC-2009-09-11 (European Economics)
- NEP-MAC-2009-09-11 (Macroeconomics)
- NEP-MON-2009-09-11 (Monetary Economics)
- NEP-OPM-2009-09-11 (Open Economy Macroeconomics)
- NEP-TRA-2009-09-11 (Transition Economics)
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