Analýza (a)symetričnosti šoků ve vybraných zemích Evropské unie

The aim of this diploma thesis is to propose a new OCA index based on a Bayesian VAR model (growth of real GDP in the domestic economy, the euro area, and the rest of the world) using zero and sign restrictions to measure the symmetry and asymmetry of structural shocks. A comparison of member states revealed a higher degree of convergence within the euro area than among candidates for EMU entry, demonstrating both the endogeneity of the criteria used to assess suitability and the positive impact of membership on economic-cycle alignment in the case of Slovakia. To date, the Czech Republic lacks sufficiently robust adjustment mechanisms for EMU accession. The thesis further points to the problems of the European monetary area and the costs of relinquishing an independent monetary policy.