BUSINESS CYCLE SYNCHRONIZATION IN THE EURO AREA
Journal Title: CES Working Papers - Year 2012, Vol 4, Issue 3
Abstract
Business cycle synchronization represents a condition for the successful implementation of the common monetary policy within the Economic and Monetary Union. There is a tight relation between business cycle synchronization and the economic convergence of the Member States of the Monetary Union. Investigating the specialized literature, this study analyses below the factors which influence the synchronization of the economic fluctuations of the economies in the Euro area. A second objective of this study is represented by the pointing out of the evolution of the synchronization process of the business cycle after the adoption of the euro, in the euro area countries by reference to the empiric evidence. The hypothesis of the study states that the introduction of the unique currency in 1999 resulted into the increase of the synchronization degree of the business cycle.
Authors and Affiliations
Ioana Văleanu
Keywords
Related Articles
- EP ID EP98084
- DOI -
- Views 149
- Downloads 0
RENEWABLE ENERGY – A NEW DIRECTION IN THE EUROPEAN ENERGY MARKET EVOLUTION
Nowadays, renewable energy represents one of the most debated subjects on the global energy market. The global warming and the constraints of the traditional energy resources led to the reorientation of countries in expl...
EU ENLARGEMENT AT A CROSSROADS
The present article aims to explore the general theme of the EU enlargement strategy in the new 2012 European context. Until now, the EU’s enlargement strategy has yielded impressive results. It succeeded in transforming...
SOCIAL COSTS OF THE EUROPEAN UNION IN THE CONTEXT OF THE ECONOMIC-FINANCIAL CRISIS
The start of the financial crisis in mid-2007 at a global scale had a major impact on the European Union’s economy. All member states have been economically affected, but the social effects were mainly of large amplitude...
TOWARD MIGRATION TRANSITION IN ROMANIA
Most studies regarding the contribution of migration to development are limited to an isolated analysis of the economic effects of migration. But the migration process is in turn influenced by other processes. So a wider...
ILLEGAL DRUG MARKETS IN EUROPE: THE NEGATIVE CONSEQUENCES OF GLOBALIZATION
Globalizing processes have profoundly shaped the European drugs situation. The illegal drug markets have reached to evolve and to transform all the advantages of this phenomenon, in their favor. Based on globalization as...