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Business cycles in the euro area

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  • Domenico Giannone
  • Michele Lenza

Abstract

This article documents that the creation of the euro area has not affected the characteristics of member countries’ business cycles. Regarding the business cycle in the euro area as a whole, it is shown that the slowdown in per capita GDP growth over recent years could have been largely, but not entirely, predicted on the basis of historical regularities and observed developments in the United States. JEL Classification: E32, E33, C5, F2, F43

Suggested Citation

  • Domenico Giannone & Michele Lenza, 2009. "Business cycles in the euro area," Research Bulletin, European Central Bank, vol. 8, pages 5-7.
  • Handle: RePEc:ecb:ecbrbu:2009:0008:2
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    More about this item

    Keywords

    euro area; international business cycle;

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F2 - International Economics - - International Factor Movements and International Business
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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