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Is a European Hard Core Credible? A Statistical Analysis

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  • Jacquemin, Alexis
  • Sapir, André

Abstract

The paper analyses the proposal to create a hard core of EU countries committed to deeper and faster integration by studying the economic structure of the proposed grouping. It is divided into two parts. The first examines the relative weight and structural characteristics of the five potential candidates for early membership of the hard core in comparison with the whole EU, Japan and the United States. The second uses principal component and cluster analyses to investigate whether these five countries represent a homogenous grouping vis-à-vis the other EU members.

Suggested Citation

  • Jacquemin, Alexis & Sapir, André, 1995. "Is a European Hard Core Credible? A Statistical Analysis," CEPR Discussion Papers 1242, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:1242
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    Cited by:

    1. Victor Echevarria Icaza & Simón Sosvilla-Rivero, 2017. "Yields on sovereign debt, fragmentation and monetary policy transmission in the euro area: A GVAR approach," Working Papers 17-01, Asociación Española de Economía y Finanzas Internacionales.
    2. Gómez-Puig, Marta & Sosvilla-Rivero, Simón & Ramos-Herrera, María del Carmen, 2014. "An update on EMU sovereign yield spread drivers in times of crisis: A panel data analysis," The North American Journal of Economics and Finance, Elsevier, vol. 30(C), pages 133-153.
    3. Simón Sosvilla-Rivero & Francisco Pérez-Bermejo, 2008. "Political and Institutional Factors in Regime Changes in the ERM: An Application of Duration Analysis," The World Economy, Wiley Blackwell, vol. 31(8), pages 1049-1077, August.
    4. Fernández-Rodríguez, Fernando & Gómez-Puig, Marta & Sosvilla-Rivero, Simón, 2015. "Volatility spillovers in EMU sovereign bond markets," International Review of Economics & Finance, Elsevier, vol. 39(C), pages 337-352.
    5. Gómez-Puig, Marta & Sosvilla-Rivero, Simón, 2017. "Heterogeneity in the debt-growth nexus: Evidence from EMU countries," International Review of Economics & Finance, Elsevier, vol. 51(C), pages 470-486.
    6. Papageorgiou, Theofanis & Michaelides, Panayotis G. & Milios, John G., 2010. "Business cycles synchronization and clustering in Europe (1960-2009)," Journal of Economics and Business, Elsevier, vol. 62(5), pages 419-470, September.
    7. Gómez-Puig, Marta & Sosvilla-Rivero, Simón, 2015. "The causal relationship between debt and growth in EMU countries," Journal of Policy Modeling, Elsevier, vol. 37(6), pages 974-989.

    More about this item

    Keywords

    EU; Regional integration;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration

    Statistics

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