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A meta-analysis of business cycle correlation between the euro area and CEECs: What do we know – and who cares? Author info | Abstract | Publisher info | Download info | Related research | Statistics Fidrmuc, Jarko () (Oesterreichische Nationalbank)
Korhonen, Iikka () (BOFIT)
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We review the literature on business-cycle correlation between the euro area and Central and Eastern European countries (CEECs), a topic that has gained attention in recent years as new EU entrants prepare for participation in the monetary union. Our meta-analysis suggests several CEECs already have comparably high correlation with the euro area business cycle. We also find that estimation methodologies can have a significant effect on correlation coefficients. While central bankers are more conservative in their estimates, we find no evidence of a geographical bias in the studies.
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Paper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number
20/2004.
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Length: 36 pages
Date of creation: 30 Dec 2004Date of revision:
Handle: RePEc:hhs:bofitp:2004_020Contact details of provider: Postal: Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland Phone: + 358 10 831 2268 Fax: + 358 10 831 2294 Email: Web page: http://www.bof.fi/bofit/ More information through EDIRC
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Keywords: monetary union ; optimum currency area ; business cycles ; meta-analysis ; Other versions of this item:
Find related papers by JEL classification: C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles F15 - International Economics - - Trade - - - Economic Integration F31 - International Economics - - International Finance - - - Foreign Exchange
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