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Symmetry and Asymmetry of Supply and Demand Shocks in the European Union

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  • Laurence Boone

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  • Laurence Boone, 1997. "Symmetry and Asymmetry of Supply and Demand Shocks in the European Union," Working Papers 1997-03, CEPII research center.
    • Handle: RePEc:cii:cepidt:1997-03
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    5. Fernando Barran & Virginie Coudert & Benoît Mojon, 1996. "The Transmission of Monetary Policy in the European Countries," Working Papers 1996-03, CEPII research center.
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    11. Olivier Jean Blanchard & Lawrence F. Katz, 1992. "Regional Evolutions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 23(1), pages 1-76.
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    13. Beine, Michel & Hecq, Alain, 1997. "Asymmetric Shocks Inside Future EMU," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 12, pages 131-140.
    14. Hughes Hallett, Andrew & Vines, David, 1991. "Adjustment Difficulties within a European Monetary Union: Can They be Reduced?," CEPR Discussion Papers 517, C.E.P.R. Discussion Papers.
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    16. Nick Chamie & Alain DeSerres & René Lalonde, "undated". "Optimum Currency Areas and Shock Asymmetry: A Comparison of Europe and the United States," Staff Working Papers 94-1, Bank of Canada.
    17. Bernard, Andrew B & Durlauf, Steven N, 1995. "Convergence in International Output," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(2), pages 97-108, April-Jun.
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    19. Tamim Bayoumi and Barry Eichengreen., 1993. "One Money or Many? On Analyzing the Prospects for Monetary Unification in Various Parts of the World," Center for International and Development Economics Research (CIDER) Working Papers C93-030, University of California at Berkeley.
    20. Bayoumi, Tamim & Masson, Paul R., 1995. "Fiscal flows in the United States and Canada: Lessons for monetary union in Europe," European Economic Review, Elsevier, vol. 39(2), pages 253-274, February.
    21. Nick Chamie & Alain DeSerres & Rene Lalonde, 1994. "Optimum Currency Areas and Shock Asymmetry A Comparison of Europe and the United States," International Finance 9406001, University Library of Munich, Germany, revised 19 Aug 1994.
    22. Erkel-Rousse, Hélène & Melitz, Jacques, 1995. "New Empirical Evidence on the Costs of European Monetary Union," CEPR Discussion Papers 1169, C.E.P.R. Discussion Papers.
    23. Bayoumi, Tamim & Eichengreen, Barry, 1996. "Operationalizing the Theory of Optimum Currency Areas," CEPR Discussion Papers 1484, C.E.P.R. Discussion Papers.
    24. Hakkio, Craig S. & Rush, Mark, 1989. "Market efficiency and cointegration: an application to the sterling and deutschemark exchange markets," Journal of International Money and Finance, Elsevier, vol. 8(1), pages 75-88, March.
    25. Francesco Giavazzi & Alberto Giovannini, 1987. "Exchange rates and prices in Europe," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 123(4), pages 592-605, December.
    26. Robert J. Barro & Xavier Sala-i-Martin, 1990. "Economic Growth and Convergence across The United States," NBER Working Papers 3419, National Bureau of Economic Research, Inc.
    27. Vinals, Jose, 1996. "European monetary integration: A narrow or a wide EMU?," European Economic Review, Elsevier, vol. 40(3-5), pages 1103-1109, April.
    28. Craig S. Hakkio & Mark Rush, 1987. "Market efficiency and cointegration," Research Working Paper 87-05, Federal Reserve Bank of Kansas City.
    29. Hall, S G & Robertson, D & Wickens, M R, 1992. "Measuring Convergence of the EC Economies," The Manchester School of Economic & Social Studies, University of Manchester, vol. 60(0), pages 99-111, Supplemen.
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    Cited by:

    1. Maurel, Mathilde & Boone, Laurence & Babetski, Jan, 2002. "Exchange Rate Regimes and Supply Shocks Asymmetry: The Case of the Accession Countries," CEPR Discussion Papers 3408, C.E.P.R. Discussion Papers.
    2. Stefaan Ide & Philippe Moës, 2003. "Scope of asymmetries in the Euro area," Working Paper Document 37, National Bank of Belgium.
    3. Iuliana Matei, 2008. "Prices and output co-movements : an empirical investigation for the CEECs," Post-Print halshs-00335025, HAL.
    4. Maria Demertzis & Andrew Hallett & Ole Rummel, 2000. "Is the European union a natural currency area, or is it held together by policy makers?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 136(4), pages 657-679, December.
    5. Xu, Xinpeng, 2006. "A currency union for Hong Kong and Mainland China?," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 894-911, October.
    6. Igor Veličkovski & Aleksandar Stojkov, 2014. "Is the European integration speeding up the economic convergence process of the Central and South-Eastern European countries? A shock perspective," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(2), pages 287-321, May.
    7. Jan Babetskii, 2004. "Ladhésion des Peco (Pays dEurope Centrale et Orientale) à l'Union européenne et l'endogénéité des chocs d'offre et de demande," Économie et Prévision, Programme National Persée, vol. 163(2), pages 33-49.
    8. Mikek, Peter, 2009. "Does trade integration contribute to synchronization of shocks in Europe?," MPRA Paper 101413, University Library of Munich, Germany.
    9. van der Cruijsen, Carin & Demertzis, Maria, 2007. "The impact of central bank transparency on inflation expectations," European Journal of Political Economy, Elsevier, vol. 23(1), pages 51-66, March.
    10. Tanja Broz, 2007. "The Application Of Optimum Currency Area Criteria To Croatia," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(9), pages 7-19, November.
    11. Babetskii, Ian & Boone, Laurence & Maurel, Mathilde, 2004. "Exchange rate regimes and shocks asymmetry: the case of the accession countries," Journal of Comparative Economics, Elsevier, vol. 32(2), pages 212-229, June.
    12. David Fielding & Kalvinder Shields, 2005. "The Impact of Monetary Union on Macroeconomic Integration: Evidence from West Africa," Economica, London School of Economics and Political Science, vol. 72(288), pages 683-704, November.
    13. Horvath, Julius, 2003. "Optimum currency area theory: A selective review," BOFIT Discussion Papers 15/2003, Bank of Finland Institute for Emerging Economies (BOFIT).
    14. Igor Velickovski, 2013. "Assessing independent monetary policy in small, open and euroized countries: evidence from Western Balkan," Empirical Economics, Springer, vol. 45(1), pages 137-156, August.
    15. Tanja Broz, 2010. "Introduction of the euro in CEE countries - is it economically justifiable? The Croatian case," Post-Communist Economies, Taylor & Francis Journals, vol. 22(4), pages 427-447.
    16. Tanja Broz, 2008. "The Introduction of the Euro in Central and Eastern European Countries - Is it Economically Justifiable?," Working Papers 0801, The Institute of Economics, Zagreb.
    17. David Fielding & Kalvinder Shields, 2005. "Do Currency Unions Deliver More Economic Integration than Fixed Exchange Rates? Evidence from the Franc Zone and the ECCU," Journal of Development Studies, Taylor & Francis Journals, vol. 41(6), pages 1051-1070.
    18. Lionel Fontagné & Michael Freudenberg, 1999. "Endogenous Symmetry of Shocks in a Monetary Union," Open Economies Review, Springer, vol. 10(3), pages 263-287, July.
    19. Zhaoyong Zhang & Kiyotaka Sato, 2008. "Whither A Currency Union in Greater China?," Open Economies Review, Springer, vol. 19(3), pages 355-370, July.
    20. Joanna Tyrowicz, 2007. "The OCA Theory and Its Empirical Application for the EMU," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 45-60.
    21. Paul-Emmanuel Micolet, 1998. "Positionnement conjoncturel du Royaume-Uni et UEM," Revue de l'OFCE, Programme National Persée, vol. 66(1), pages 127-169.

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    More about this item

    Keywords

    model; convergence; optimum currency area; VAR; shock;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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