Please use this identifier to cite or link to this item:
|Title:||Business cycle synchronisation and currency unions: A review of the econometric evidence using meta-analysis|
|Keywords:||Business cycles synchronisation;Optimum currency areas;EMU;Euro;Meta-analysis|
|Citation:||International Review of Financial Analysis|
|Abstract:||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.|
|Appears in Collections:||Dept of Economics and Finance Research Papers|
Items in BURA are protected by copyright, with all rights reserved, unless otherwise indicated.