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Title: Trade intensity and output synchronisation: On the endogeneity properties of the EMU
Authors: Caporale, GM
De Santis, R
Girardi, A
Keywords: Output synchronisation;Trade intensity;Endogeneity;European Monetary Union (EMU)
Issue Date: 2013
Publisher: Brunel University
Citation: Economics and Finance Working Paper, Brunel University: 13-04, Mar 2013
Abstract: Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results support the specialisation paradigm rather than the endogeneity hypothesis. Evidence is found in the euro period of diverging patterns between the core and the peripheral EMU countries raising questions about the future stability of EMU.
Appears in Collections:Economics and Finance
Dept of Economics and Finance Research Papers

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