IDEAS home Printed from
MyIDEAS: Login to save this article or follow this journal

Is there clustering among the Eurozone economies? Evidence from how the EU's New Member States are converging

  • Andrew Hughes Hallett
  • Christian Richter

Optimal Currency Area theory stresses the importance of the co-movement of business cycles among Eurozone member states for a successful common currency. In this paper, we show how to decompose economic cycles in a time-frequency framework in order to compare the coherences and phase shifts for Hungary, Poland, Czech Republic, Germany and France. We find that there has been some convergence on the Eurozone economy at short cycle lengths, but little convergence in long cycles. We argue that this shows evidence of divergence in the Eurozone into two groups: a German cluster and the periphery economies.

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: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.

Volume (Year): 14 (2011)
Issue (Month): 2 ()
Pages: 127-150

in new window

Handle: RePEc:taf:jpolrf:v:14:y:2011:i:2:p:127-150
Contact details of provider: Web page:

Order Information: Web:

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:taf:jpolrf:v:14:y:2011:i:2:p:127-150. 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: (Michael McNulty)

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.