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Identification of Shocks and Imbalances in the European Union
Le, Thanh Tam
The main objective of the thesis is to examine the asymmetric shocks and imbal-ances among the countries in the European Union. The shocks are identified with their nature and estimated in magnitudes by using the Vector Autoregressive models. From these models, the filtered residuals representing economic shocks were displayed on correlation matrices in order to assess the similarity level of their impacts on respective member states' economies. The empirical studies led to the conclusion that there exist some certain asymmetries in the EU and enabled some policy implications.

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