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Meta-analysis of the business cycle correlation between the euro area and the CEECs

  • Fidrmuc, Jarko
  • Korhonen, Iikka

We review the literature on business cycle correlation between the euro area and the Central and Eastern European countries (CEECs), a topic that has gained attention as the newest EU members approach monetary union. Our meta-analysis of 35 identified publications suggests some CEECs already have comparably high correlation with the euro area business cycle. We find that estimation methodologies can have a significant effect on correlation coefficients. While CEEC central bankers tend to be more conservative in their estimates than academics or eurosystem researchers, we find no evidence of a geographical bias in the studies.

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Article provided by Elsevier in its journal Journal of Comparative Economics.

Volume (Year): 34 (2006)
Issue (Month): 3 (September)
Pages: 518-537

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Handle: RePEc:eee:jcecon:v:34:y:2006:i:3:p:518-537
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622864

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