CEECs Show High Business Cycle Correlation with Euro Area: Implications Ahead!
The article looks at how the economies of Central and Eastern European countries (CEECs) are connected to the euro area. The researchers found that some CEECs have a strong correlation with the euro area's business cycle. Different ways of calculating this correlation can give different results. Central bankers tend to be more cautious in their estimates. However, there is no bias based on where the studies were conducted. This research helps us understand how these countries' economies are linked and how they might be affected by joining the euro area.