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Four Years After Expansion: Are Czech Republic, Hungary and Poland Closer to Core or Periphery of EMU?

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  • Marcin Łupiński

Abstract

In this paper we try to check readiness of three Central and Eastern Europe countries, Czech Republic, Hungary and Poland, to introduce European single currency, euro. As a background in the macroeconomic field we use Optimal Currency Area Theory and in the mathematical field three procedures and models: Stock and Watson unobserved component model, spectral and cross-spectral analysis and cluster analysis. Achieved results allow us to state that four years after EU expansion three new countries are rather similar to EMU periphery countries like Italy, Portugal, Spain and Greece than to EMU core economies like Austria, Belgium, Denmark, Germany France and Netherlands.

Suggested Citation

  • Marcin Łupiński, 2009. "Four Years After Expansion: Are Czech Republic, Hungary and Poland Closer to Core or Periphery of EMU?," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 22.
    • Handle: RePEc:eko:ekoeko:22_75
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    File URL: http://ekonomia.wne.uw.edu.pl/ekonomia/getFile/685
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    References listed on IDEAS

    as
    1. Dmitri Boreiko, 2003. "EMU and accession countries: Fuzzy cluster analysis of membership," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(4), pages 309-325.
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    3. Kozluk, Tomasz, 2005. "CEEC Accession Countries and the EMU - An Assessment of Relative and Readiness for Euro-Area Membership," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 20, pages 439-474.
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    6. M J Artis & W Zhang, 2001. "Core and Periphery in EMU: A Cluster Analysis," Economic Issues Journal Articles, Economic Issues, vol. 6(2), pages 47-58, September.
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