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2015 | 210 | 39-48

Article title

Szoki makroekonomiczne w strefie EURO

Authors

Content

Title variants

EN
Similarity of macroeconomic shocks in the EURO area

Languages of publication

PL

Abstracts

EN
The objective of this paper is to identify macroeconomic shocks in the euro area and to define their degree of similarity. The method of research is the analysis of time series of change in real GDP and deflator GDP. The study covers the period 1999-2013. The similarity of shocks is different in the euro area. Demand shocks were, in most ca-ses, symmetrical, while supply shocks - asymmetrical. Small open economies react more strongly to shocks. As a result of relatively high concordance of shocks, there are large differences in the response of real GDP and prices to shocks in the euro area.

Year

Volume

210

Pages

39-48

Physical description

Contributors

References

  • Bayoumi T., Eichengreen B., Shocking Aspects of European Monetary Integration, „NBER Working Paper” 1993, No. 3949.
  • European Commission, Statistical Annex of European Economy, Spring 2014.
  • Eurostat, Key Figures on Europe 2013, Publications Office of the European Union, Luxembourg 2013.
  • Fidrmuc J., Korhonen J., Similarity of Supply and Demand Shocks Between the Euro Area and the CEECs, „Economic Systems” 2003, Vol. 23, No. 3, s. 313-334.
  • Frenkel M., Nickel C., How Symmetric Are the Shocks and the Shock Adjustment Dyna-mics Between the Euro Area and the Central and Eastern European Countries? „IMF Working Paper” 2002, No. 222.
  • Gilson N., How to be Well Shod to Absorb Shocks? Shocks Synchronization and Joining the Euro Zone, „CESifo Working Paper” 2006, No. 1878.
  • Grauwe de P., Unia walutowa, PWE, Warszawa 2003.
  • Harding D., Pagan A., Dissecting the Cycle: A Methodological Investigation, „Journal of Monetary Economics” 2002, Vol. 49, No. 2,.
  • http://appsso.eurostat.ec.europa.eu/nui/print.do?print=true.
  • Mongelli F. P., „New” Views on the Optimum Currency Area Theory: What is EMU Tel-ling Us? „ECB Working Series” 2002, No. 138.
  • Mundell R., A Theory of Optimum Currency Areas, „American Economic Review” 1961, Vol. 51.
  • Verhoef B.A., The (A)symmetry of Shocks in the EMU, „DNB Staff Reports” 2003, No. 106.

Document Type

Publication order reference

Identifiers

ISSN
2083-8611

YADDA identifier

bwmeta1.element.desklight-9ddb68ee-5899-4b98-a828-8b34ad8a13a1
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