Do institutions and culture matter for business cycles?
AbstractWe examine the relationship between institutions, culture and cyclical fluctuations for a sample of 45 European, Middle Eastern and North African countries. Better governance is associated with shorter and less severe contractions and milder expansions. Certain cultural traits, such as lack of acceptance of power distance and individualism, are also linked business cycle features. Business cycle synchronization is tightly related to similarities in the institutional environment. Mediterranean countries conform to these general tendencies.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1314.
Date of creation: Apr 2012
Date of revision:
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Web page: http://www.econ.upf.edu/
Business cycles; institutions; culture; Mediterranean countries; synchronization.;
Other versions of this item:
- Sumru Altug & Fabio Canova, 2012. "Do Institutions and Culture Matter for Business Cycles?," Working Papers 627, Barcelona Graduate School of Economics.
- Altug, Sumru G. & Canova, Fabio, 2013. "Do Institutions and Culture Matter for Business Cycles?," CEPR Discussion Papers 9382, C.E.P.R. Discussion Papers.
- Sumru Altug & Fabio Canova, 2012. "Do Institutions and Culture Matter for Business Cycles?," KoÃ§ University-TUSIAD Economic Research Forum Working Papers 1217, Koc University-TUSIAD Economic Research Forum.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-01 (All new papers)
- NEP-ARA-2012-07-01 (MENA - Middle East & North Africa)
- NEP-BEC-2012-07-01 (Business Economics)
- NEP-CUL-2012-07-01 (Cultural Economics)
- NEP-CWA-2012-07-01 (Central & Western Asia)
- NEP-MAC-2012-07-01 (Macroeconomics)
- NEP-SOC-2012-07-01 (Social Norms & Social Capital)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Sumru Altug & Bilin Neyapti & Mustafa Emin, 2012.
"Institutions and Business Cycles,"
Wiley Blackwell, vol. 15(3), pages 347-366, December.
- Sumru Altug & Mustafa Emin & Bilin Neyapti, 2011. "Institutions and Business Cycles," KoÃ§ University-TUSIAD Economic Research Forum Working Papers 1109, Koc University-TUSIAD Economic Research Forum.
- Altug, Sumru G. & Emin, Mustafa & Neyapti, Bilin, 2012. "Institutions and Business Cycles," CEPR Discussion Papers 8728, C.E.P.R. Discussion Papers.
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"Central Bank Autonomy: Lessons from Global Trends,"
IMF Staff Papers,
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- Bursian, Dirk & Weichenrieder, Alfons J. & Zimmer, Jochen, 2013.
"Trust in government and fiscal adjustments,"
SAFE Working Paper Series
22, Center of Excellence SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
- 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.
- Sumru Altug & Baris Tan & Gozde Gencer, 2011.
"Cyclical Dynamics of Industrial Production and Employment: Markov Chain-based Estimates and Tests,"
KoÃ§ University-TUSIAD Economic Research Forum Working Papers
1101, Koc University-TUSIAD Economic Research Forum.
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Economics Working Papers
1258, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2012.
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- Fabio Canova & Matteo Ciccarelli, 2011. "ClubMed Cyclical Fluctuations in the Mediterranean Basin," Working Papers 532, Barcelona Graduate School of Economics.
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