Five years in a balloon: Estimating the effects of euro adoption in Slovakia using the synthetic control method
We analyse the effect of Slovakia's euro adoption in 2009 on the country's economic performance by using the synthetic control method. This method compares Slovakia's economic performance with that of a weighted combination of comparable Central European economies that have remained o...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2016
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1317 |
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| Online-Zugang: | Volltext |
| Zusammenfassung: | We analyse the effect of Slovakia's euro adoption in 2009 on the country's economic performance by using the synthetic control method. This method compares Slovakia's economic performance with that of a weighted combination of comparable Central European economies that have remained outside the Euro zone. We estimate that by adopting the euro, Slovakia gained 10% of real GDP per capita by 2011. Strong anticipation effects are present as two thirds of this gain occurred already in 2008. Nevertheless, had Slovakia postponed adoption of the EUR by one year and kept its own currency during the recession in 2009, the economy would have been temporarily better off that year by 2%. These results survive various robustness tests. |
| Beschreibung: | 1 Online-Ressource (21 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jlv236zqj7b-en |
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| spelling | Žúdel, Branislav VerfasserIn aut Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method Branislav, Žúdel and Libor, Melioris = Cinq années en ballon : Les effets de l'adoption de l'euro par la Slovaquie estimés par la méthode des contrôles synthétiques / Branislav, Žúdel et Libor, Melioris Cinq années en ballon Paris OECD Publishing 2016 1 Online-Ressource (21 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1317 We analyse the effect of Slovakia's euro adoption in 2009 on the country's economic performance by using the synthetic control method. This method compares Slovakia's economic performance with that of a weighted combination of comparable Central European economies that have remained outside the Euro zone. We estimate that by adopting the euro, Slovakia gained 10% of real GDP per capita by 2011. Strong anticipation effects are present as two thirds of this gain occurred already in 2008. Nevertheless, had Slovakia postponed adoption of the EUR by one year and kept its own currency during the recession in 2009, the economy would have been temporarily better off that year by 2%. These results survive various robustness tests. Economics Slovak Republic Melioris, Libor MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jlv236zqj7b-en Volltext |
| spellingShingle | Žúdel, Branislav Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method Economics Slovak Republic |
| title | Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method |
| title_alt | Cinq années en ballon |
| title_auth | Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method |
| title_exact_search | Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method |
| title_full | Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method Branislav, Žúdel and Libor, Melioris = Cinq années en ballon : Les effets de l'adoption de l'euro par la Slovaquie estimés par la méthode des contrôles synthétiques / Branislav, Žúdel et Libor, Melioris |
| title_fullStr | Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method Branislav, Žúdel and Libor, Melioris = Cinq années en ballon : Les effets de l'adoption de l'euro par la Slovaquie estimés par la méthode des contrôles synthétiques / Branislav, Žúdel et Libor, Melioris |
| title_full_unstemmed | Five years in a balloon Estimating the effects of euro adoption in Slovakia using the synthetic control method Branislav, Žúdel and Libor, Melioris = Cinq années en ballon : Les effets de l'adoption de l'euro par la Slovaquie estimés par la méthode des contrôles synthétiques / Branislav, Žúdel et Libor, Melioris |
| title_short | Five years in a balloon |
| title_sort | five years in a balloon estimating the effects of euro adoption in slovakia using the synthetic control method |
| title_sub | Estimating the effects of euro adoption in Slovakia using the synthetic control method |
| topic | Economics Slovak Republic |
| topic_facet | Economics Slovak Republic |
| url | https://doi.org/10.1787/5jlv236zqj7b-en |
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