How Symmetric Are the Shocks and the Shock Adjustment Dynamics Between the Euro Area and Central and Eastern European Countries?
IMF Working Papers, December 1, 2002
Source details
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- How Symmetric Are the Shocks and the Shock Adjustment Dynamics Between the Euro Area and Central and Eastern European Countries?
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Bibliographic details
- Authors: Michael Frenkel, Christiane Nickel
- Published: December 1, 2002
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451875270.001
Methodology
- Structural vector autoregression (SVAR) model used to identify and compare demand and supply shocks.
- Comparisons made across:
- Euro area countries,
- Central and eastern European countries (CEECs),
- EU countries that do not participate in the EMU.
- Sample period: 1993-2001.
Key findings
- There are still differences in the shocks and in the adjustment process to shocks between the euro area and the CEECs.
- Several individual CEECs exhibit shocks and shock adjustment processes that are fairly similar to some euro area countries.
Subject areas and keywords
- Subject: Business cycles, Econometric analysis, Economic growth, Economic integration, Economic theory, Inflation, Monetary unions, Prices, Supply shocks, Vector autoregression
- Keywords: Business cycles, central and eastern European country, countries of the EU, country, demand and supply shock, EMU candidate, EMU country, EMU economy, EMU EU country, EMU member, EU country, EU member, Europe, European monetary integration, Inflation, international monetary arrangements and institutions, Monetary unions, supply and demand demand shock, Supply shocks, Vector autoregression, Western Europe, WP