The Spanish Business Cycle and its Relationship to Europe
AbstractThis paper studies the relationship between Spanish real aggregate fluctuations and those of its Europe neighbors in the last decades. It studies the ability of alternative International Real Business Cycle models (based on Backus, Kehoe and Kydland (1994) with different degrees of international interdependencies, to capture the observed comovement between the Spanish and European business cycles and compares the fit of those models using a probabilistic measure based on Gregory and Smith (1991, 1993) and Canova (1994, 1995).
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Bibliographic InfoPaper provided by Banco de Espa�a in its series Banco de Espa�a Working Papers with number 9819.
Length: 69 pages
Date of creation: 1998
Date of revision:
BUSINESS CYCLES ; EUROPE ; SPAIN;
Find related papers by JEL classification:
- E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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- Anelí Bongers & José L. Torres & Jesús Rodríguez, 2010. "Caracterización del ciclo económico en Andalucía 1980 - 2008," Economic Working Papers at Centro de Estudios Andaluces E2010/08, Centro de Estudios Andaluces.
- Rafael Muñoz, . "Skilled and unskilled employment in a Spanish business cycle model," Studies on the Spanish Economy, FEDEA 20, FEDEA.
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