| Title |
Business cycle synchronisation and currency unions: a review of the econometric evidence using meta-analysis |
| Authors |
Campos, Nauro F ; Fidrmuc, Jarko ; Korhonen, Iikka |
| DOI |
10.1016/j.irfa.2018.11.012 |
| Full Text |
|
| Is Part of |
International review of financial analysis: Symposium on Meta-Analysis and Systematic Reviews in International Finance, Poznan, Poland, Jun, 2018.. New York : Elsevier. 2019, vol. 61, p. 274-283.. ISSN 1057-5219. eISSN 1873-8079 |
| Keywords [eng] |
business cycles synchronisation ; optimum currency areas ; EMU ; euro ; meta-analysis |
| Abstract [eng] |
This paper offers a systematic evaluation of the evidence on the effects of currency unions on the synchronisation of economic activity. Focusing on Europe, we construct a database of about 3000 business cycles synchronisation coefficients including their design and estimation characteristics. We find that: (1) synchronisation increased from about 0.4 before the introduction of the euro in 1999 to 0.6 afterwards; (2) this increase occurred in both euro and non-euro countries (larger in former); and (3) there is evidence of country-specific publication bias. |
| Published |
New York : Elsevier |
| Type |
Journal article |
| Language |
English |
| Publication date |
2019 |
| CC license |
|
