Two sides of the same union? Reviving the Optimum Currency Areas theory from the business cycle synchronisation perspective

Štiblárová, Ľubica; Siničáková, Marianna

doi:10.1080/14631377.2019.1644589

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Les Transferts Budgétaires Dans Le Cas De La Zone Euro1

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2023

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Cited by 3 publications

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“…L'exemple de l'Espagne reste encore une fois perti-5. Stiblarova et Sinicakova (2020) évoquent la théorie des zones monétaires optimales et l'importance de la synchronisation des cycles économiques des pays appartenant à un espace économique commun. L'étude démontre que les pays d'Europe centrale et orientale (PECO) ont un cycle économique dont les phases sont plus longues que l'ensemble de la zone euro, notamment la phase de croissance.…”

Section: Les Transferts Budgétaires Dans Le Cas De La Zone Eurounclassified

Dysfonctionnement du système des paiements intra-européens

Boutefnouchet

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Section: Les Transferts Budgétaires Dans Le Cas De La Zone Eurounclassified

Dysfonctionnement du système des paiements intra-européens

Boutefnouchet

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Positive externalities of the EU cohesion policy: Toward more synchronised CEE countries?

Dicharry,

Stiblarova

2023

Int Econ Econ Policy

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The aim of this paper is to examine the role of the payments from the European Cohesion Policy (ECP) in the business cycle synchronisation of the EU–28 countries in the time period 2000–2016. The emphasis is especially placed on the Central and Eastern European (CEE) countries, given their status as the biggest ECP recipients; we investigate whether the ECP can serve as an instrument to promote their synchronisation which presents one of the prerequisites for the adoption of common monetary policy in the Economic and Monetary Union (EMU). By applying a panel instrumental variables estimation, our results suggest that the ECP provides a positive externality regarding increased synchronicity in the EMU, suggesting that the ECP should be further strengthened to foster business synchronicity in the Euro Area. Further analysis reveals that the systematically identified driving forces are the European Regional Development Fund (ERDF) and the Cohesion Fund (CF). The current European recovery plan ‘Next Generation EU’ could, therefore, have a promoting effect on the EMU’s monetary policy if it is designed as an additional structural investment fund promoting financial and trade integration.

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Business cycle synchronization and African monetary union: A wavelet analysis

Fankem

Mbesa

2023

Journal of Macroeconomics

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Two sides of the same union? Reviving the Optimum Currency Areas theory from the business cycle synchronisation perspective

Cited by 3 publications

References 26 publications

Dysfonctionnement du système des paiements intra-européens

Dysfonctionnement du système des paiements intra-européens

Positive externalities of the EU cohesion policy: Toward more synchronised CEE countries?

Business cycle synchronization and African monetary union: A wavelet analysis

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