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Economic Clubs and European Commitment. Evidence from the International Business Cycles

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Author Info
Bovi, M.

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Abstract

This paper examines the emergence of economic clubs and its coherence with the european commitments. to this end, it analyses business cycle comovements in six industrialised economies, which are pooled into several clusters. results lead to conclude that an english-speaking club (canada, uk, us) is emerging in the last decades, whereas explicit and formal commitments seem to have had a relatively weaker power in determining euro-zone business cycles comovements. while the broad conclusions are consistent with the existing literature the proposed empirical framework is not based on correlations testing, under very few assumptions, the relative cyclical association via the marginal homogeneity in 2x2 contingency tables.

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Publisher Info
Article provided by Euro-American Association of Economic Development in its journal International Journal of Applied Econometrics and Quantitative Studies .

Volume (Year): 2 (2005)
Issue (Month): 2 ()
Pages: 101-122
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Handle: RePEc:eaa:ijaeqs:v:2:y2005:i:2_2

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Related research
Keywords: business cycles; synchronization; turning points; nonparametric test;

Find related papers by JEL classification:
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation

References listed on IDEAS
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