New Candidates for the Euro Area? Similarity of Supply and Demand Shocks in the Non-Euro Area Countries

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F15%3A86094830" target="_blank" >RIV/61989100:27510/15:86094830 - isvavai.cz</a>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

New Candidates for the Euro Area? Similarity of Supply and Demand Shocks in the Non-Euro Area Countries

Popis výsledku v původním jazyce

There are still countries of the European Union which are not in the Euro Area. There are nine countries in 2015. The purpose of this contribution is to find out, if there is any good candidate for a membership in the Euro Area. For this purpose we use structural vector autoregression model. We assume that supply shock has a permanent effect on output and demand shock has only a temporary effect on output. Moreover, both have a permanent effect of price level. The similarities of supply and demand shocks are compared in relation to the Euro Area as a whole and in relation to Germany. The analysed period is from the first quarter 1999 to the fourth quarter 2014. We find that according to the results we can claim that the best candidates are the United Kingdom, Croatia and Bulgaria for a membership in the Euro Area from analysed countries. Romania and Denmark have good results only either in the case of demand shocks (Romania) or in the case of supply shocks (Demark). The results in the

Název v anglickém jazyce

New Candidates for the Euro Area? Similarity of Supply and Demand Shocks in the Non-Euro Area Countries

Popis výsledku anglicky

There are still countries of the European Union which are not in the Euro Area. There are nine countries in 2015. The purpose of this contribution is to find out, if there is any good candidate for a membership in the Euro Area. For this purpose we use structural vector autoregression model. We assume that supply shock has a permanent effect on output and demand shock has only a temporary effect on output. Moreover, both have a permanent effect of price level. The similarities of supply and demand shocks are compared in relation to the Euro Area as a whole and in relation to Germany. The analysed period is from the first quarter 1999 to the fourth quarter 2014. We find that according to the results we can claim that the best candidates are the United Kingdom, Croatia and Bulgaria for a membership in the Euro Area from analysed countries. Romania and Denmark have good results only either in the case of demand shocks (Romania) or in the case of supply shocks (Demark). The results in the

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of the 13th International Conference "ECONOMIC POLICY IN THE EUROPEAN UNION MEMBER COUNTRIES"

ISBN

978-80-248-3796-3

ISSN

—

e-ISSN

—

Počet stran výsledku

9

Strana od-do

266-274

Název nakladatele

Vysoká škola báňská - Technická univerzita Ostrava

Místo vydání

Ostrava

Místo konání akce

Ostrava

Datum konání akce

2. 9. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

—