Business Cycle Synchronisation and Currency Unions: A Review of the econometric evidence using meta-analysis

Wirtschaftswissenschaften

Fidrmuc, Jarko

Business Cycle Synchronisation and Currency Unions: A Review of the econometric evidence using meta-analysis

Fidrmuc, Jarko: Business Cycle Synchronisation and Currency Unions: A Review of the econometric evidence using meta-analysis, International Review of Financial Analysis, 2018: https://doi.org/10.1016/j.irfa.2018.11.012 (in Druck).

Originalarbeiten in wissenschaftlichen Fachzeitschriften

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.

https://doi.org/10.1016/j.irfa.2018.11.012

(Im Druck)

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