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An Empirical Analysis of Romania’s Comovement with the Euro Zone
Nicolae Dardac,Elena Bojesteanu +1 more
TLDR
In this article, an empirical investigation of the degree of business cycle synchronization between Romania and the euro area, based on macroeconomic series that capture the cyclical features of the two economies, is presented.Abstract:
In light of adopting the euro in the near future, it is important to asses to which extent the Romanian business cycle evolves in a similar fashion with that of the euro zone. The present study is an empirical investigation of the degree of business cycle synchronization between Romania and the euro area, based on macroeconomic series that capture the cyclical features of the two economies. The results indicate that the most recent period, characterized by major economic and financial turmoil, has lead to an increase of the degree of comovement between of the Romanian economy with that of the euro area.read more
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Synchronization of Business Cycles in the Selected European Countries
TL;DR: In this article, the authors examined the synchronization of business cycles in Serbia and its neighbouring countries, taking the euro area as an optimum currency area, by applying the Hodrick-Prescott and the band-pass filtering filters, as well as the Pearson correlation coefficient and the Spearman rank correlation coefficient.
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Empirical Analysis of Business Cycle Synchronization and Shock Similarity Between Romania and the Eurozone
TL;DR: In this paper, the authors evaluate the degree of business cycle synchronization and the similarity of production structures between Romania and the eurozone, drawing a comparison with other new member states, concluding that it is less advisable for Romania to join the eurozone than for other countries in Central and Eastern Europe.
References
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