Współczesne Problemy Ekonomiczne

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Współczesne Problemy Ekonomiczne : Globalizacja. Liberalizacja. Etyka


ISSN: 2081-9579     eISSN: 2353-2815    OAI    DOI: 10.18276/wpe.2017.15-01
CC BY-SA   Open Access 

Issue archive / nr 15 (2017)
Integracja walutowa jako determinanta synchronizacji cykli koniunkturalnych w strefie euro
(Monetary integration as a determinant of business cycles synchronization in the Euro Area)

Authors: Jan Borowiec
Uniwersytet Ekonomiczny we Wrocławiu, Katedra Polityki Ekonomicznej i Europejskich Studiów Regionalnych
Keywords: business cycles synchronization euro area monetary integration
Data publikacji całości:2017
Page range:10 (7-16)
Klasyfikacja JEL: E32 E43 F33
Cited-by (Crossref) ?:

Abstract

The scientific goal of the paper is to determinate the role of the monetary integration in the business cycles synchronizationin the Euro Area, whereas the methodological goal is to determinate whether selection of the measure of business cycles synchronization and monetary integration significantly changes results of the research. Measures of the business cycles synchronization include: correlation of the output gap, business classical cycles concordance, similarity of macroeconomic shocks and cyclical divergence; measures of monetary integration include membership in the EMU and similarity of monetary policies. Research is based on the simple linear regression model supported by descriptive statistics and correlation analysis. Result of the research suggest that monetary integration fosters the business cycles synchronization in the Euro Area. However regression results are very sensitive to selection of measures of business cycles synchronization.
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