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ClubMed? Cyclical fluctuations in the Mediterranean basin

  • Canova, Fabio
  • Ciccarelli, Matteo

We investigate macroeconomic fluctuations in the Mediterranean, their similarities and convergence. A model with four indicators, roughly covering the West, the East and the Middle East and the North Africa portions of the Mediterranean, characterizes well the historical experience since the early 1980. Idiosyncratic causes still dominate domestic cyclical fluctuations in many countries. Convergence and divergence which coexist are local and transitory. The cyclical outlook for the next few years is rosier for the East than for the West.

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Article provided by Elsevier in its journal Journal of International Economics.

Volume (Year): 88 (2012)
Issue (Month): 1 ()
Pages: 162-175

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Handle: RePEc:eee:inecon:v:88:y:2012:i:1:p:162-175
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505552

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  3. M. Ayhan Kose & Christopher Otrok & Eswar Prasad, 2012. "Global Business Cycles: Convergence Or Decoupling?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 511-538, 05.
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  16. Thomas Helbling & Tamim Bayoumi, 2003. "Are they All in the Same Boat? the 2000-2001 Growth Slowdown and the G-7 Business Cycle Linkages," IMF Working Papers 03/46, International Monetary Fund.
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