A dynamic analysis of asymmetric shocks in EU manufacturing
Available empirical evidence regarding the degree of symmetry between European economies in the context of Monetary Unification is not conclusive. This paper offers new empirical evidence concerning this issue related to the manufacturing sector. Instead of using a static approach as most empirical...
| Autores: | , , |
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| Formato: | artículo |
| Estado: | Versión aceptada para publicación |
| Fecha de publicación: | 2003 |
| País: | España |
| Recursos: | Universidad de Barcelona |
| Repositorio: | Dipòsit Digital de la UB |
| OAI Identifier: | oai:diposit.ub.edu:2445/65029 |
| Acesso em linha: | https://hdl.handle.net/2445/65029 |
| Access Level: | acceso abierto |
| Palavra-chave: | Indústria manufacturera Manufactures Anàlisi econòmica Integració europea Unions monetàries Política econòmica Manufacturing industries Economic analysis European federation Monetary unions Economic policy |
| Resumo: | Available empirical evidence regarding the degree of symmetry between European economies in the context of Monetary Unification is not conclusive. This paper offers new empirical evidence concerning this issue related to the manufacturing sector. Instead of using a static approach as most empirical studies do, we analyse the dynamic evolution of shock symmetry using a state-space model. The results show a clear reduction of asymmetries in terms of demand shocks between 1975 and 1996, with an increase in terms of supply shocks at the end of the period. |
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