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首页> 外文期刊>Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis >Business cycle coherence and OCA endogeneity testing during the integration period in the European Union
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Business cycle coherence and OCA endogeneity testing during the integration period in the European Union

机译:欧盟整合期间的业务周期一致性和OCA内生性测试

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摘要

The paper deals with assessing the EU from the new optimum currency area theory perspective. It focuses on measuring of the business cycle coherence applying the composite indicators of output gap similarity and synchronicity. Static as well as dynamic business cycle analysis is applied in the paper. In addition, the OCA endogeneity hypothesis is tested based on results of the business cycle coherence analysis. The results show high general coherence of the business cycles across the EU countries in terms of synchronicity measures. Detailed analysis of the output gap similarity indicates differences in the scale of cyclical deviations and impact of shocks in individual countries in the EU. Also the ability to cope with the crisis as a kind of external shock differs in the EU countries. The results do not provide a clear evidence of the OCA endogeneity hypothesis related to the Euro area member and non-member countries.
机译:本文涉及从新的最佳货币区理论的角度评估欧盟。它着重于运用产出缺口相似性和同步性的综合指标来衡量商业周期的一致性。本文应用静态和动态业务周期分析。此外,基于业务周期一致性分析的结果对OCA内生性假设进行了测试。结果表明,就同步措施而言,整个欧盟国家的商业周期具有高度的一致性。对产出缺口相似性的详细分析表明,周期性偏差的规模和欧盟各个国家的冲击影响存在差异。在欧盟国家中,作为一种外部冲击来应对危机的能力也有所不同。结果并未提供与欧元区成员国和非成员国有关的OCA内生性假设的明确证据。

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