Has the Euro-Mediterranean partnership affected Mediterranean business cycles?
AbstractWe date turning points of the reference cycle for 19 Mediterranean countries and analyze their structure and interdependences. Fluctuations are volatile and not highly correlated across countries; recessions are deep but asynchronous making average output losses in the area limited. Heterogeneities across countries and regions are substantial. Mediterranean cycles are time varying but their evolution is not linked with the Euro-Mediterranean partnership process. The concordance of cyclical fluctuations is poorly related to trade and financial linkages and to their evolution over time.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1267.
Date of creation: Feb 2011
Date of revision: May 2012
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Web page: http://www.econ.upf.edu/
Turning point dates; Reference cycles; Euro-Mediterranean partnership; trade and financial interdependences;
Other versions of this item:
- Fabio Canova & Alain Schlaepfer, 2012. "Has the Euro-Mediterranean Partnership Affected Mediterranean Business Cycles?," Working Papers 548, Barcelona Graduate School of Economics.
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-16 (All new papers)
- NEP-ARA-2011-04-16 (MENA - Middle East & North Africa)
- NEP-BEC-2011-04-16 (Business Economics)
- NEP-CBA-2011-04-16 (Central Banking)
- NEP-EEC-2011-04-16 (European Economics)
- NEP-MAC-2011-04-16 (Macroeconomics)
- NEP-MIC-2011-04-16 (Microeconomics)
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- Adrian Pagan, 2013. "Patterns and Their Uses," NCER Working Paper Series 96, National Centre for Econometric Research.
- Canova, Fabio & Dallari, Pietro, 2013. "How important is tourism for the international transmission of cyclical fluctuations? Evidence from the Mediterranean," Working Paper Series 1553, European Central Bank.
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