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Business Cycles And Economic Recovery In European Union. A Survey

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  • Silvia Marginean

    (Lucian Blaga University of Sibiu, Faculty of Economic Sciences)

Abstract

AThis paper explores the evolution of the European Union economy during the last contraction, between 2007 and 2009. Assuming that the signs of recovery visible in the third quarter of 2009 will be sustainable, year 2010 will be the end of the crisis for the European and world economy. Looking at short-term evolutions we find out that business cycles in European Union are not really synchronized. Moreover, the amplitude of business cycle, determined as difference between growth rate in peak and growth rate in trough (annually data) is very different. UE27 is yet a two speed economy, with big differences between Old Member States and New Member States. The economic policies during the recovery will have to adapt to these differences.

Suggested Citation

  • Silvia Marginean, 2009. "Business Cycles And Economic Recovery In European Union. A Survey," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 4(4), pages 86-94, december.
  • Handle: RePEc:blg:journl:v:4:y:2009:i:4:p:86-94
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    Keywords

    business cycle; crisis; recovery; European Union;

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