IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Similarity of Supply and Demand Shocks Between the New Member States and the Euro Zone. The Case of Romania

Listed author(s):
  • Dumitru, Ionut


    (1Academy of the Economic Studies Bucharest and Head of RESEARCH with Raiffeisen Bank Romania)

  • Dumitru, Ionela


    (Academy of the Economic Studies Bucharest)

This paper assesses the correlation of supply and demand shocks between New Member States (NMS), including Romania, and the Eurozone. Using a structural VAR approach, we estimated the similarity between demand (both nominal and real) and supply shocks between NMS and the Eurozone, showing that the demand shocks are still negatively correlated with the Eurozone for some NMS, including Romania. Also, using a moving window, we estimated that the correlation of shocks increased over time, especially in the case of supply shocks. Even for some core members of the Eurozone, we find that the demand shocks seem to be idiosyncratic. The main conclusion of our paper is the fact that Romania, as well as some other NMS countries, still need time to become more synchronized and to avoid the occurrence of asymmetric shocks once they become members of the Eurozone.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Article provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.

Volume (Year): (2011)
Issue (Month): 1 (March)
Pages: 5-19

in new window

Handle: RePEc:rjr:romjef:v::y:2011:i:1:p:5-19
Contact details of provider: Postal:
Casa Academiei, Calea 13, Septembrie nr.13, sector 5, Bucure┼čti 761172

Phone: 004 021 3188148
Fax: 004 021 3188148
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:rjr:romjef:v::y:2011:i:1:p:5-19. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Corina Saman)

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.