Price co-movements within currency unions

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主讲人	Greg Whitten	简介	<p>&nbsp;Abstract: This paper analyzes currency union integration by testing whether price levels in member countries possess a common stochastic trend. The trace statistic test for cointegration proposed by Johansen (1995) demonstrates the presence of such a trend for most unions. A disaggregated analysis identifies a common stochastic trend for several though fewer than half of country pairs within a union, particularly compared to the set of country pairs not in unions. Some unions such as the Eurozone have small shares of cointegrated country pairs. These results provide an alternative metric to intra-union trade for gauging the extent of currency union integration.</p>
时间	2015-06-04(星期四)16:40-18:00	地点	N302, Econ Building
讲座语言	English	主办单位	WISE&SOE
承办单位		类型	系列讲座
联系人信息		主持人	Mouhua Liao
专题网站		专题
主讲人简介	<p>Professor in Economics, Lingnan University.</p> <p><a href="/EventsMgr/Upload/File/2015/5/20150525061745254.pdf"><u><span style="color: rgb(51, 102, 255);">Prof. Greg Whitten's CV</span></u></a></p>	期数	“WISE-SOE”高级经济学系列讲座2015春季学期第十二讲（总第351讲）--宏观领域

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