000			01669cam a2200205 4500500
005			20250121053444.0
041			_afre
042			_adc
100	1	0	_aBabetskii, Jan _eauthor
245	0	0	_aEU Enlargement and Endogeneity in Some OCA Criteria: Evidence from Countries Applying for Admission to the EU
260			_c2004.
500			_a31
520			_aThe European Commission (1990) reports that closer integration reduces the frequency of asymmetric shocks and synchronizes business cycles more between countries. However, Krugman (1993) posits that closer integration entails greater specialization and hence greater risks of individual shocks. This paper draws on evidence from a group of CEEC countries to determine which argument is supported by the data. It does so by comparing supply and demand shock asymmetry coefficients with trade intensity and exchange rate indicators over time. We find that (i) an increase in trade intensity gives rise to greater demand shock symmetry and the effect of integration on supply shock asymmetry varies from country to country; (ii) a decrease in exchange rate volatility has a positive effect on demand shock convergence. The results confirm the European Commission’s view and Kenen’s argument(2001) that the effect of trade integration on shock asymmetry depends on the type of shock.
690			_aOCA (optimal currency area)
690			_aEU enlargement
690			_atrade
690			_abusiness cycle
786	0		_nEconomie & prévision | o 163 | 2 | 2004-06-01 | p. 33-49 | 0249-4744
856	4	1	_uhttps://shs.cairn.info/journal-economie-et-prevision-1-2004-2-page-33?lang=en&redirect-ssocas=7080
999			_c468142 _d468142