Business Cycle Synchronisation and Currency Unions: A Review of the Econometric Evidence using Meta-Analysis

Fidrmuc, Jarko, Campos, Nauro, Korhonen, Iikka

Business Cycle Synchronisation and Currency Unions: A Review of the Econometric Evidence using Meta-Analysis

Fidrmuc, Jarko, Campos, Nauro, Korhonen, Iikka: Business Cycle Synchronisation and Currency Unions: A Review of the Econometric Evidence using Meta-Analysis, International Review of Financial Analysis, 2019; Jg. 2019 (61(1)): 274-283: https://doi.org/10.1016/j.irfa.2018.11.012 (download: https://www.sciencedirect.com/science/article/pii/S1057521918301650) .

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

Zeppelin-Lehrstuhl für Internationale Wirtschaftstheorie & -politik (eingerichtet 05 / 2011)

Am Seemooser Horn 20
88045 Friedrichshafen

Tel: +49 7541 6009-1241
Fax: +49 7541 6009-1299
Email: jarko.fidrmuc@zu.de
http://www.zeppelin-university.de/deutsch/lehrstuehle/internationales_management/internationales_management_profil.php