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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
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  9. Fabio Canova, 1997. "Testing for convergence clubs in income per-capita: A predictive density approach," Economics Working Papers 404, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 1999.
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