Business cycle harmonization in new and old EU member-states

• Authors: Darvas Zs. , Szapary Gy.
• Languages of publication: HU

Abstracts

EN

The study analyses the degree of similarity in the business cycles of the EMU members and eight new Central and Eastern European (CEE) EU members, for which EMU accession will be the next stage of integration. The coincidence of cycles is usually regarded as one of the most important optimal currency area properties. While the business cycles of Hungary, Poland and Slovenia greatly approximate to those of the EMU countries in GDP, industrial production and exports, the same cannot be said of consumption or services. The other CEE countries show little or no coincidence in their cycles. The EMU countries have managed to achieve increasing harmonization of their cycles, which could support the endogeneity of optimum currency areas.

Keywords

EN

BUSINESS CYCLES HARMONIZATION; EUROPEAN MONETARY UNION ACCESSION; OPTIMUM CURRENCY AREA

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2004
• Volume: 51
• Issue: 5
• Pages: 415-448
• Document type: ARTICLE

Contributors

author

Darvas Zs.

author

Szapary Gy.

• Zs. Darvas, no address given, contact the journal editor

Identifiers

CEJSH db identifier

06HUAAAA00651638