Register  |  Login  |  Inquiries  |  Sitemap
Advanced Search
Journal of Economic Integration 2002 March;17(1) :54-79.
DOI: https://doi.org/10.11130/jei.2002.17.1.54
Membership of EMU: A Fuzzy Clustering Analysis of Alternative Criteria
M.J. Artis and 
W. Zhang 
European University Institute and CEPR
Manchester Metropolitan University
Copyright ©2002 Journal of Economic Integration
ABSTRACT
The paper applies fuzzy clustering techniques to the member countries of the European Union in order to arrive at an identification of preferred monetary union groupings. The statistical criteria employed are those suggested, alternatively, by the traditional Optimal Currency Area theory or the Treaty of Maastricht. Both criteria sets identify well-identified sub-groups, where a distinction can be made between a "core group" and one or more peripheral goups. Despite some differences, the similarity between the groups distinguished by the alternative sets of criteria is quite striking. On the whole this is good news for the sustainability of the current "Euro-zone".
Keywords: O
 
REFERENCE
1. Artis, M.J. and W. Zhang (1998), "Core and Periphery in EMU: A cluster analysis", EUI Working Papers, RSC no. 98/37.
2. Artis, M.J. and W. Zhang (1997), "International Business Cycles and the ERM: Is There a European Business Cycle?", International Journal of Finance and Economics, 2, 116.
TOOLS
PDF Links  PDF Links
Full text via DOI  Full text via DOI
Download Citation  Download Citation
Supplement  Supplement
  E-Mail
Share:      
METRICS
17
Crossref
0
Scopus
1,314
View
5
Download
Editorial Office
Center for Economic Integration, Sejong Institution, Sejong University, 209, Neungdong-Ro, Gwangjin-Gu,
Seoul, 05006, Korea
TEL : +82-2-3408-3338    FAX : +82-2-3408-3338   E-mail : jei@sejong.ac.kr
Browse Articles |  Current Issue |  For Authors and Reviewers |  About
Copyright© by Center for Economic Integration. All right reserved.