Search for: [Abstrakt = "This paper focuses on analyzing the impact of the consequences of monetary union on GDP volatility in Portugal. Using quarterly data from 1978\:01 to 2009\:04, we test the output composition effect and the correlation effect through three alternative approaches of volatility\: year on year, quarter on quarter and the value of output gap. Results support the presence of the composition effect. Overall, the average covariance has played a relevant role in lowering volatility. Evidence also indicates that there is a regime shift near the years 1992\-3, while both European Union membership and participation in the euro area contribute towards smoothing the economy. The decreasing path of volatility was slightly reversed after the country became a euro area member"]

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