Please use this identifier to cite or link to this item:
http://bura.brunel.ac.uk/handle/2438/17172
Title: | Business cycle synchronisation and currency unions: A review of the econometric evidence using meta-analysis |
Authors: | Campos, NF Fidrmuc, J Korhonen, I |
Keywords: | Business cycles synchronisation;Optimum currency areas;EMU;Euro;Meta-analysis |
Issue Date: | 2018 |
Publisher: | Elsevier |
Citation: | International Review of Financial Analysis, 2019, 61 pp. 274 -283 |
Abstract: | © 2018 The Authors. 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. |
URI: | https://bura.brunel.ac.uk/handle/2438/17172 |
DOI: | https://doi.org/10.1016/j.irfa.2018.11.012 |
ISSN: | 1057-5219 |
Appears in Collections: | Economics and Finance Dept of Economics and Finance Research Papers |
Files in This Item:
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FullText.pdf | 1.34 MB | Adobe PDF | View/Open |
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