Campos, Nauro, Macchiarelli, Corrado, (2016), “A new measure of economic asymmetries in the Eurozone”, VoxEu, 19 October
Explanations for the Eurozone Crisis rely on the notion of cross-country asymmetries. The core-periphery pattern to the EU was first established by Bayoumi and Eichengreen in 1993, prior to the Eurozone. This column replicates their approach to explore whether the euro has strengthened or weakened this pattern. A new ‘coreness index’ indicates that the core-periphery pattern has weakened, and that a new, smaller periphery has emerged.
Relevant Posts
- Wren-Lewis, S. (2014) “Eurozone Asymmetries”, Mainly Macro Blog, 05 October.
- Nikola Bokan, Andrea Gerali, Sandra Gomes, Pascal Jacquinot, Massimiliano Pisani, (2016), “EAGLE-FLI: A macroeconomic model of banking and financial interdependence in the euro area”, ECB Working Paper 1923, June