Business Cycle Synchronization Of The Euro Area With The New And Negitiating Member Countries PDF Download
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| Author | : Marcus Kappler |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 197 |
| Release | : 2012-07-30 |
| Genre | : Business & Economics |
| ISBN | : 3790828556 |
Download Business Cycle Synchronisation and Economic Integration Book in PDF, ePub and Kindle
This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.
| Author | : Silvia Palasca |
| Publisher | : GRIN Verlag |
| Total Pages | : 15 |
| Release | : 2013-06-05 |
| Genre | : Business & Economics |
| ISBN | : 3656443033 |
Download Business Cycles Syncronaziation in Europe Book in PDF, ePub and Kindle
Essay from the year 2013 in the subject Economics - Monetary theory and policy, Alexandru Ioan Cuza University of Iasi, language: English, abstract: The European Union sets the premises for the appearance of a new phenomenon in the global economic setting: the synchronization of the national business cycles. The aim of this article is to statistically prove the existence of a Euro are business cycle through the study of a classic indicator- the annual change of the GDP and also through the use of foreign trade indicators-the annual changes in exports in imports. Also, it is important, at the end, to choose the best of these indicators or a combination thereof to use as a benchmark for further studies. The empiric study is useful to classify the European countries in clusters according to synchronization, a first step in adopting common policies.
| Author | : Uwe Böwer |
| Publisher | : |
| Total Pages | : 71 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Determinants of Business Cycle Synchronisation Across Euro Area Countries Book in PDF, ePub and Kindle
| Author | : Piotr Misztal |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
Download International Trade and Business Cycle Synchronization in Poland, the European Union and the Euro Zone Book in PDF, ePub and Kindle
The analysis of business cycle synchronization levels has become a key point in the discussion of the processes of international economic integration. Economists show a particular interest in analyzing the frequency of processes of business cycle convergence and divergence (decoupling) in the European Union, especially in the Euro Zone. One of the factors determining business cycle convergence in economies is the intensity and structure of international trade. The aim of this paper is to analyze the influence exerted by international trade over the synchronization of business cycles in Poland, the European Union and the Euro Zone from 1995 to 2011. The analytical methods employed here encompass a review of the literature on macroeconomics and international finance, as well as econometric models (such as the Vector Autoregression Model). The results of empirical research indicate that an increase in trade turnover does not necessarily lead to greater business cycle synchronization in the economies under analysis. In fact, the impact of an increase in countries' turnover on the synchronization of their business cycles depends predominantly on the structure of trade turnover and not solely on the intensity of trade.
| Author | : Kwan-ho Sin |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 2003 |
| Genre | : Business cycles |
| ISBN | : |
Download Trade Integration and Business Cycle Synchronization in Europe Book in PDF, ePub and Kindle
| Author | : Krzysztof Beck |
| Publisher | : |
| Total Pages | : |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download Business Cycle Synchronization Book in PDF, ePub and Kindle
Turmoil in euro area once more forces EU authorities to rethink future of further monetary integration. One of the most commonly used criterions for successful monetary in contemporary research is business cycle synchronization (BCS). Though BCS has been vastly described at country level, not as much attention has been put on the degree of BSC at regional level. Topic is important for 2 main reasons. The first is that determining degree of BCS at regional level can help in assessment of monetary policy effectiveness at country level, as well as giving point of reference for evaluation of perspective costs of participation in monetary union. The second is that there is theoretical dispute within the optimum currency areas literature between 'European Commission' and "Krugman" view that can be resolve a great deal trough regional analysis. In order to assess BCS in EU Hodrick-Prescott, as well as Christiano and Fitzgerald filter to time series of real GDP for 24 countries, 82 NUTS 1, 242 NUTS 2 and 1264 NUTS 3 regions over the period of 1998-2010. Data was later used to create bilateral measures of BSC, which gave 276 observations on country level, 3321 on NUTS 1, 29161 on NUTS 2 and 798216 on NUTS 3 level. Results of the analysis support "European Commission" view and show very high degree of BSC within EU countries. Country level analysis also reveals that within the EU there exist group of countries that could form effectively working monetary union based on BCS criterion.
| Author | : Mr.Jeffrey R. Franks |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2018-01-23 |
| Genre | : Business & Economics |
| ISBN | : 1484338499 |
Download Economic Convergence in the Euro Area: Coming Together or Drifting Apart? Book in PDF, ePub and Kindle
We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
| Author | : Mr.Ayhan Kose |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2008-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1451870019 |
Download Global Business Cycles Book in PDF, ePub and Kindle
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
| Author | : J. Hölscher |
| Publisher | : Springer |
| Total Pages | : 409 |
| Release | : 2014-10-21 |
| Genre | : Business & Economics |
| ISBN | : 1137426411 |
Download Poland and the Eurozone Book in PDF, ePub and Kindle
Poland is one of Europe's economic out-performers. The country's history and geography encourage it to be in favour of deeper European integration. This book aims to contribute to discussions on the future shape of EMU and the next steps ahead.
| Author | : Jakob De Haan |
| Publisher | : MIT Press |
| Total Pages | : 277 |
| Release | : 2005-04-15 |
| Genre | : Business & Economics |
| ISBN | : 0262262452 |
Download The European Central Bank Book in PDF, ePub and Kindle
An examination of the debates on European Central Bank monetary policy, focusing on issues of transparency, credibility, and accountability and the effect of the ECB's decentralized structure. The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national central banks. This CESifo volume examines issues that have arisen in the first years of ECB monetary policy and analyzes the effect that current ECB policy strategy and structures may have in the future. After a detailed description and assessment of ECB monetary policy making that focuses on such issues as price stability and the predictability of policy decisions, the book turns to two important issues faced by European central bankers: the transparency and credibility of decision making and the ECB's decentralized structure. After showing that transparency in decision making enhances credibility, the book discusses the ECB's efforts at openness, its political independence as guaranteed by law, and its ultimate accountability. The book then considers the effects of the decentralized ECB structure, focusing on business cycle synchronization, inflation differentials, and differences in monetary policy transmission in light of the enlargement of the monetary union. The book also discusses options for ECB institutional reforms, including centralization, vote weighting, and cross-border regional banks.
