(en) This paper compares the demand and supply shocks observed in the actual Euro zone member states with those observed in some neighboring countries. The analysis is based on recent data and each Euro zone member country is compared with an aggregate series corresponding to an area made up of all the Euro zone except the country being from the comparison. The results of the paper confirm that, even when series are corrected by removing the country being from the comparison, the disturbances observed in large Euro zone countries are well correlated with the disturbances observed in other Euro zone member countries.
Affiliations
Louvain School of ManagementAccounting & Finance
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Chicago
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Gilson, N. (2006). About the future of EMU. 23nd International Symposium on Banking and Monetary Economics, France, Lille. https://hdl.handle.net/2078.5/128906