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dc.contributor.authorMiles, William
dc.contributor.authorVijverberg, Chu-Ping C.
dc.date.accessioned2018-07-06T15:37:38Z
dc.date.available2018-07-06T15:37:38Z
dc.date.issued2018-07
dc.identifier.citationMiles, W. and Vijverberg, C. C. (2018), Did the Euro Common Currency Increase or Decrease Business Cycle Synchronization for its Member Countries?. Economica, 85: 558-580en_US
dc.identifier.issn0013-0427
dc.identifier.otherWOS:000434412400007
dc.identifier.urihttp://dx.doi.org/10.1111/ecca.12201
dc.identifier.urihttp://hdl.handle.net/10057/15356
dc.descriptionClick on the DOI link to access the article (may not be free).en_US
dc.description.abstractWe use two variants of Markov switching models to assess changes in output synchronization since the creation of the euro. Out of eight eurozone countries investigated, only onethe Netherlandshas synchronization increased since euro adoption, supporting the endogenous optimal currency area' argument of Frankel and Rose. However, in three other cases, business cycle synchronization actually fell since the euro's creation. Thus the endogeneity' of the optimal currency area criteria can go both waysadopting a common currency may increase synchronization for nations ready for a common currency, but it can lower synchronization for nations that are far from synchronized before monetary unification.en_US
dc.language.isoen_USen_US
dc.publisherJohn Wiley and Sonsen_US
dc.relation.ispartofseriesEconomica;v.85:no.339
dc.subjectAreasen_US
dc.subjectEndogeneityen_US
dc.subjectUnionsen_US
dc.titleDid the euro common currency increase or decrease business cycle synchronization for its member countries?en_US
dc.typeArticleen_US
dc.rights.holder© 2016, John Wiley and Sonsen_US


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