Business Cycles Alignment of Selected CEECc and the Euro Area

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

Business Cycles Alignment of Selected CEECc and the Euro Area

Popis výsledku v původním jazyce

Similarity of business cycles is one of the crucial preconditions for sharing a common currency. If business cycles of individual countries in a monetary union diverge considerably, monetary policy setting will not fit them all. This article aims to evaluate and discuss alignment of business cycles of selected Central and Eastern European countries with the euro area as a whole. The analysis is based on the correlation of deviations of real GDP levels from their trend values, output gaps synchronicity calculation, and measuring the similarity of output gaps amplitude. The results indicate a high degree of business cycles alignment between the Baltic countries and the euro area; common monetary policy setting should be, therefore, most suitable for Baltic countries. On the contrary, the highest degree of business cycle misalignment is observed in case of Hungary.

Název v anglickém jazyce

Business Cycles Alignment of Selected CEECc and the Euro Area

Popis výsledku anglicky

Similarity of business cycles is one of the crucial preconditions for sharing a common currency. If business cycles of individual countries in a monetary union diverge considerably, monetary policy setting will not fit them all. This article aims to evaluate and discuss alignment of business cycles of selected Central and Eastern European countries with the euro area as a whole. The analysis is based on the correlation of deviations of real GDP levels from their trend values, output gaps synchronicity calculation, and measuring the similarity of output gaps amplitude. The results indicate a high degree of business cycles alignment between the Baltic countries and the euro area; common monetary policy setting should be, therefore, most suitable for Baltic countries. On the contrary, the highest degree of business cycle misalignment is observed in case of Hungary.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2014

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of the 2nd International Conference on European Integration 2014 - ICEI 2014 : May 15-16, 2014, Ostrava, Czech Republic

ISBN

978-80-248-3388-0

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

596-602

Název nakladatele

VŠB-Technical University of Ostrava

Místo vydání

Ostrava

Místo konání akce

Ostrava

Datum konání akce

15. 5. 2014

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000346144900067