Business cycle synchronisation in the euro area: the case of small countries

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dc.contributor.authorGouveia, Sofia Helena Cerqueira dept_PT
dc.contributor.authorCorreia, Leonida Amaral Tomaspt_PT
dc.date.accessioned2020-10-12T14:25:26Z
dc.date.available2020-10-12T14:25:26Z
dc.date.issued2008
dc.description.abstractBusiness cycle synchronisation is a necessary condition for the successful implementation of a common monetary policy, according to the theory of Optimum Currency Area. This paper focuses on the European Monetary Union (EMU) providing a descriptive analysis of the association between the aggregate Euro area and nine member states’ business cycles in 1980:1–2004:4. Overall, we find that, since the inception of EMU, business cycles of the larger member-states have been increasingly synchronised with the aggregate Euro area cycle, with the only exception of Spain, while results are rather mixed in the case of smaller countries. We further document that since 1997 business cycle synchronisation has become weaker in a number of countries, such as Belgium, the Netherlands and Greece.pt_PT
dc.identifier.other10.1007/s10368-008-0103-2
dc.identifier.urihttp://hdl.handle.net/10348/10133
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.relation.ispartofCETRAD - Centro de Estudos Transdisciplinares para o Desenvolvimentopt_PT
dc.rightsopen accesspt_PT
dc.subjectbusiness cycle synchronisationpt_PT
dc.subjecteconomic and monetary unionpt_PT
dc.subjecteuropean integrationpt_PT
dc.titleBusiness cycle synchronisation in the euro area: the case of small countriespt_PT
dc.typejournal articlept_PT
degois.publication.firstPage103pt_PT
degois.publication.issue1-2pt_PT
degois.publication.lastPage121pt_PT
degois.publication.locationAlemanhapt_PT
degois.publication.titleInternational Economics and Economic Policypt_PT
degois.publication.volume5pt_PT
dspace.entity.typePublicationen
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