The Development of External Macroeconomic Imbalances in the EU Countries

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Development of External Macroeconomic Imbalances in the EU Countries

Popis výsledku v původním jazyce

The economic crisis has revealed the existence of significant and long persisting external macroeconomic imbalances in European countries. The aim of the article is to evaluate the development of synchronisation of external macroeconomic imbalances in the EU countries using a comparative overview Macroeconomic Imbalances Procedures (MIP) in European countries in the years 2004 – 2014, and mainly to draw conclusions whether in the area of macroeconomic imbalances the Eurozone countries (monetary union, EMU) showed development in time different from the development in European countries outside the Eurozone which represent a lower degree of economic integration (common market, non EMU). For the creation of the spatial concept of macroeconomic imbalances detection and for the evaluation of their development synchronisation the Cluster Analysis Method has been used. Based on the comparison it has been proven that in the course of the observed eleven years in the area of macroeconomic imbalances synchronisation no clearly positive development occurred. In the observed period, countries outside the Eurozone responded to economic shocks with a higher degree of similarity and a lower degree of volatility than the Eurozone countries, and at the same time in these countries the remedy in the post-crisis period was faster and more intensive.

Název v anglickém jazyce

The Development of External Macroeconomic Imbalances in the EU Countries

Popis výsledku anglicky

The economic crisis has revealed the existence of significant and long persisting external macroeconomic imbalances in European countries. The aim of the article is to evaluate the development of synchronisation of external macroeconomic imbalances in the EU countries using a comparative overview Macroeconomic Imbalances Procedures (MIP) in European countries in the years 2004 – 2014, and mainly to draw conclusions whether in the area of macroeconomic imbalances the Eurozone countries (monetary union, EMU) showed development in time different from the development in European countries outside the Eurozone which represent a lower degree of economic integration (common market, non EMU). For the creation of the spatial concept of macroeconomic imbalances detection and for the evaluation of their development synchronisation the Cluster Analysis Method has been used. Based on the comparison it has been proven that in the course of the observed eleven years in the area of macroeconomic imbalances synchronisation no clearly positive development occurred. In the observed period, countries outside the Eurozone responded to economic shocks with a higher degree of similarity and a lower degree of volatility than the Eurozone countries, and at the same time in these countries the remedy in the post-crisis period was faster and more intensive.

Druh

O - Ostatní výsledky

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů