Front Matter Page
IMF Institute
Authorized for distribution by Reza Vaez-Zadeh
Contents
I. Introduction
II. Data and Some Stylized Facts
III. The Similarity of Demand and Supply Shocks in EMU Countries and the CEECs
IV. The Similarity of Shock Adjustment Dynamics Between EMU Countries and the CEECs
V. Summary and Conclusions
Text Tables
1. Correlation Coefficients of Growth Between Different Country Groups, 1993–2001
2. Correlation Coefficients of Demand Shocks in European Countries, 1995–2001
3. Correlation Coefficients of Supply Shocks in European Countries, 1995–2001
4. Correlation Coefficients of Impulse Response Functions to Demand Shocks
5. Correlation Coefficients of Impulse Response Functions to Supply Shocks
Figures
1. Growth and Inflation, 1993–2001
2. Standard Deviation of Growth and Inflation
3. Identified Demand and Supply Shocks in Different European Country Groups
4. Impulse Response Functions to a Demand Shock
5. Impulse Response Functions to a Supply Shock
6. Impulse Response Functions of Greece and Hungary
Appendices
1. Data Description and Test for Stability
Appendix Tables
1. Data Sources
2. Eigenvalues of the System Matrices
References