Campos, Nauro, Fidrmuc, Jarko, Korhoen, Iikka, (2017), “Glass half full or half empty: Reviewing the dispute about the effects of the euro on the synchronisation of business cycles”, VoxEU, 26 Σεπτεμβρίου
The debate about the future of the Economic and Monetary Union entails a careful examination of the costs and benefits of the European single currency. This column takes stock of the empirical evidence on the euro’s effects on business cycle synchronisation. We find that synchronisation across European countries increased by 50% after 1999 (the year the euro was introduced) and that this increase was more pronounced in euro area countries.
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