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- W2023569919 abstract "This study extends Bayoumi and Eichengreen's (1993) empirical methodology in order to give a reappraisal of the core-periphery view of the enlarged euro area. We show how to derive two useful indices from the correlation box formed by aggregate demand and supply shocks. One measures the Euclidean distance to the core, while the other reveals whether shock asymmetry comes mostly from the production or the demand side. Using data over 1996-2008 on 21 countries and iterative VAR estimates, we find evidence of a gradual move to the symmetric core while new EMU Member States still remain at the very periphery." @default.
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- W2023569919 date "2012-11-01" @default.
- W2023569919 modified "2023-09-30" @default.
- W2023569919 title "Revisiting the core-periphery view of EMU" @default.
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- W2023569919 doi "https://doi.org/10.1016/j.econmod.2012.06.036" @default.
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