How to be well shod to absorb shocks? : Shock synchronization and joining the Euro zone.

(eng) This paper examines the demand and supply shocks observed in the actual Euro zone member states and those observed in some neighboring countries. The analysis is based on recent data and each Euro zone member country is compared with an aggregate series corresponding to an area made up of the entire Euro zone but the country being from the comparison. The results of the paper confirm that, even when series are corrected by removing the country being from the comparison, the disturbances observed in large Euro zone countries are well correlated with the disturbances observed in other Euro zone member countries.