The thesis tests hypothesis of endogenity of business cycle synchronization criteria as an entrance requirement specified in the OCA theory. Presented theoretical platform is tested on six countries, whose data information are filtered and subsequently organized into correlation coefficients. Results confirm positive impact of eurozone membership on harmonization of business cycles and are in conformity with the hypothesis of greater volatility of cycles in small economies and relatively weaker ... zobrazit celý abstraktThe thesis tests hypothesis of endogenity of business cycle synchronization criteria as an entrance requirement specified in the OCA theory. Presented theoretical platform is tested on six countries, whose data information are filtered and subsequently organized into correlation coefficients. Results confirm positive impact of eurozone membership on harmonization of business cycles and are in conformity with the hypothesis of greater volatility of cycles in small economies and relatively weaker convergence of aggregate consumption. Finally, convergence criteria are evaluated and applied Bayoumi-Eichengreen index is found as a suitable indicator of economic convergence. |