An Empirical Analysis of Romania’s Comovement with the Euro Zone
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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2009-11-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: | http://www.ectap.ro/articole/423.pdf |
| _version_ | 1818128425723887616 |
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| author | Nicolae Dardac Elena Bojesteanu |
| author_facet | Nicolae Dardac Elena Bojesteanu |
| author_sort | Nicolae Dardac |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-11T07:33:03Z |
| format | Article |
| id | doaj.art-2936d5a6a23046ab8ea3d7fb13afed58 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 |
| language | English |
| last_indexed | 2024-12-11T07:33:03Z |
| publishDate | 2009-11-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-2936d5a6a23046ab8ea3d7fb13afed582022-12-22T01:15:45ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86782009-11-0111(540)11(540)4150An Empirical Analysis of Romania’s Comovement with the Euro ZoneNicolae DardacElena BojesteanuIn 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.http://www.ectap.ro/articole/423.pdfco-movementoptimum currency areaEuropean integrationcohesiondynamic correlation. |
| spellingShingle | Nicolae Dardac Elena Bojesteanu An Empirical Analysis of Romania’s Comovement with the Euro Zone Theoretical and Applied Economics co-movement optimum currency area European integration cohesion dynamic correlation. |
| title | An Empirical Analysis of Romania’s Comovement with the Euro Zone |
| title_full | An Empirical Analysis of Romania’s Comovement with the Euro Zone |
| title_fullStr | An Empirical Analysis of Romania’s Comovement with the Euro Zone |
| title_full_unstemmed | An Empirical Analysis of Romania’s Comovement with the Euro Zone |
| title_short | An Empirical Analysis of Romania’s Comovement with the Euro Zone |
| title_sort | empirical analysis of romania s comovement with the euro zone |
| topic | co-movement optimum currency area European integration cohesion dynamic correlation. |
| url | http://www.ectap.ro/articole/423.pdf |
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