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A Dynamic Hierarchical Cluster Analysis of Economic Performance and Perceptions of the Euro across EU Countries

Author

Listed:
  • Emília Zimková

    (Matej Bel University in Banská Bystrica, Faculty of Economics)

  • Vlastimil Farka?ovský

    (Matej Bel University in Banská Bystrica, Faculty of Economics)

  • ?ubomir Pinter

    (Matej Bel University in Banská Bystrica, Faculty of Economics)

  • Jaros?aw Szostak

    (WSB University in Chorzow)

  • Krzysztof Koj

    (WSB University in Chorzow)

Abstract

One of the crucial benefits of EU membership, inscribed in Art. 3(3) of the Treaty on the European Union, should be economic and social cohesion. Ample empirical studies have examined EU countries? performance in terms of nominal convergence, real convergence, and convergence of business and financial cycles. Twenty years after the inception of the Economic and Monetary Union, economic cohesion clearly is not a reality, while widening real income gaps threaten social cohesion, too. The paper aims to highlight the heterogeneity and dynamics of changes in economic performance and perceptions of the euro across Europe ? two factors arguably having a tremendous impact on the success of the European project. To this end, series of data spanning 2008 through 2017 were explored using hierarchical cluster analysis.

Suggested Citation

  • Emília Zimková & Vlastimil Farka?ovský & ?ubomir Pinter & Jaros?aw Szostak & Krzysztof Koj, 2018. "A Dynamic Hierarchical Cluster Analysis of Economic Performance and Perceptions of the Euro across EU Countries," Proceedings of Economics and Finance Conferences 6910153, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:6910153
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    File URL: https://iises.net/proceedings/10th-economics-finance-conference-rome/table-of-content/detail?cid=69&iid=041&rid=10153
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    More about this item

    Keywords

    Economic and Monetary Union; economic performance; convergence criteria; euro adoption; euro perception; dynamic hierarchical cluster analysis;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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