Business-cycle synchronization in the EMU
AbstractThis article asks whether the business cycles of the EU countries have become more or less synchronized after the introduction of the euro. Our findings show that all countries in our EU sample are better synchronized with the EMU-wide economy in the post-EMU period than they were before the euro. We also show that this increase in synchronization is present in all components of aggregate demand, as well as two supply-side variables, but it is more pronounced in the trade components (imports and, particularly, exports). It is also shown that the increase in trade within the EMU area is at least partly responsible for the increase in cyclical synchronization.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 40 (2008)
Issue (Month): 12 ()
Contact details of provider:
Web page: http://www.tandfonline.com/RAEC20
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Yetman, James, 2011. "Exporting recessions: International links and the business cycle," Economics Letters, Elsevier, vol. 110(1), pages 12-14, January.
- Simeon Coleman, 2011. "Investigating Business Cycle Synchronization in West Africa," Working Papers 2011/01, Nottingham Trent University, Nottingham Business School, Economics Division.
- König, Jörg & Ohr, Renate, 2012. "Messung ökonomischer Integration in der Europäischen Union: Entwicklung eines EU-Integrationsindexes," Center for European, Governance and Economic Development Research Discussion Papers 135, University of Goettingen, Department of Economics.
- Afonso, António & Furceri, Davide, 2007.
"Business cycle synchronization and insurance mechanisms in the EU,"
Working Paper Series
0844, European Central Bank.
- António Afonso & Davide Furceri, 2007. "Business Cycle Synchronization and Insurance Mechanisms in the EU," Working Papers Department of Economics 2007/26, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
- Gerhard Fenz & Martin Schneider, 2008.
"Transmission of business cycle shocks between the US and the euro area,"
145, Oesterreichische Nationalbank (Austrian Central Bank).
- Martin Schneider & Gerhard Fenz, 2011. "Transmission of business cycle shocks between the US and the euro area," Applied Economics, Taylor & Francis Journals, vol. 43(21), pages 2777-2793.
- Melisso Boschi & Massimiliano Marzo & Simone Salotti, 2013. "Domestic Versus International Determinants Of European Business Cycles: A GVAR Approach," CAMA Working Papers 2013-28, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Degiannakis, Stavros & Duffy, David & Filis, George, 2013. "Time-varying Business Cycles Synchronisation in Europe," MPRA Paper 52925, University Library of Munich, Germany.
- Luís Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares, 2011. "Synchronization of Economic Sentiment Cycles in the Euro Area: a time-frequency analysis," CEF.UP Working Papers 1105, Universidade do Porto, Faculdade de Economia do Porto.
- António Afonso & Davide Furceri, 2007.
"Sectoral Business Cycle Synchronization in the European Union,"
Working Papers Department of Economics
2007/02, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
- António Afonso & Davide Furceri, 2009. "Sectoral Business Cycle Synchronization in the European Union," Economics Bulletin, AccessEcon, vol. 29(4), pages 2996-3014.
- Davide Furceri, 2007. "From Currency Unions to a World Currency: A Possibility?," Money Macro and Finance (MMF) Research Group Conference 2006 19, Money Macro and Finance Research Group.
- repec:got:cegedp:135 is not listed on IDEAS
- Davide Furceri & Georgios Karras, 2008. "Is the Middle East an Optimum Currency Area? A Comparison of Costs and Benefits," Open Economies Review, Springer, vol. 19(4), pages 479-491, September.
- Allegret, Jean-Pierre & Essaadi, Essahbi, 2011.
"Business cycles synchronization in East Asian economy: Evidences from time-varying coherence study,"
Elsevier, vol. 28(1-2), pages 351-365, January.
- Allegret, Jean-Pierre & Essaadi, Essahbi, 2011. "Business cycles synchronization in East Asian economy: Evidences from time-varying coherence study," Economic Modelling, Elsevier, vol. 28(1), pages 351-365.
- repec:got:cegedp:138 is not listed on IDEAS
- Salá Rios, Mercé & Farré Perdiguer, Mariona & Torres Solé, Teresa, 2011. "El ciclo económico de Cataluña. Un análisis de la simetría respecto a España y a la UEM/Catalonia's Business Cycle. An Analysis of the Symmetry in Relation to Spain and the EMU," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 29, pages 913 (24 pÃ¡, Diciembre.
- König, Jörg & Ohr, Renate, 2012. "Homogeneous groups within a heterogeneous community: Evidence from an index measuring European economic integration," Center for European, Governance and Economic Development Research Discussion Papers 138, University of Goettingen, Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.