Testing heterogeneity within the euro area

Eric Jondeau and Jean-Guillaume Sahuc

Abstract: This note estimates several constrained versions of an optimization-based multi-country model to test the sources of heterogeneity within the euro area. We show that the main source is the asymmetry of shocks affecting the economies and that the heterogeneity of behaviors does not seem to be of empirical relevance for the euro area.

Keywords: Euro area; Heterogeneity; Bayesian econometrics; Multi-country model. (search for similar items in EconPapers)
JEL-codes: C51 C52 F4 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2007
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Citations: View citations in EconPapers (2)

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Journal Article: Testing heterogeneity within the euro area (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:181

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