This survey of business cycle synchronization in the European monetary union focuses on
two issues: have business cycles become more similar, and which factors drive business …

This article tests the endogeneity hypothesis of optimum currency area (OCA) criteria in a
cross‐section of OECD countries in the 1990s. It argues that intraindustry trade induces …

We review the literature on business cycle correlation between the euro area and the
Central and Eastern European countries (CEECs), a topic that has gained attention as the …

Recent developments in the monetary situation in West Africa, in particular the
transformation for the CFA franc area and the project to build a single currency for the …

We estimate the impact of macroeconomic news on composite stock returns in three
emerging European Union financial markets (the Budapest BUX, Prague PX-50, and …

It is generally recognized that countries wanting to join a monetary union should display the
optimal currency area properties. One such property is the similarity of business cycles. We …

The authors analyze the impact of the exchange rate regime on inflation and output in
(South) Eastern and Central Europe. For the whole observation period the estimations …

This paper analyzes the economic costs of a monetary union in West Africa by looking at the
fluctuations of aggregate demand and aggregate supply shocks across countries. Previous …

This paper empirically assesses the suitability of the East African (EA) countries for a
regional monetary union by testing for symmetry of the underlying structural shocks. The …

This paper analyzes the real economic convergence between the new EU entrants in
Central and Eastern Europe (CEE-8) and the EU core (EU-12 or EU-15). It includes new …