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Historical decoupling in the EU: Evidence from time-frequency analysis

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  • Kapounek, Svatopluk
  • Kučerová, Zuzana

Abstract

We investigate economic cycle comovements and identify directions of relationships to discuss the spread of asymmetric shocks across the European Union during the twenty years from the euro adoption. We contribute to traditional wavelet analyses with an updated historical overview of economic cycle comovements in 24 EU countries over 35 years with particular attention to the main milestones in the European integration process.

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  • Kapounek, Svatopluk & Kučerová, Zuzana, 2019. "Historical decoupling in the EU: Evidence from time-frequency analysis," International Review of Economics & Finance, Elsevier, vol. 60(C), pages 265-280.
    • Handle: RePEc:eee:reveco:v:60:y:2019:i:c:p:265-280
    DOI: 10.1016/j.iref.2018.10.018
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    Cited by:

    1. Maciej Ryczkowski, 2020. "Money and credit during normal times and house price booms: evidence from time-frequency analysis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(4), pages 835-861, November.
    2. Saulius Jokubaitis & Dmitrij Celov, 2022. "Business Cycle Synchronization in the EU: A Regional-Sectoral Look through Soft-Clustering and Wavelet Decomposition," Papers 2206.14128, arXiv.org.
    3. Rathke, Alexander & Streicher, Sina & Sturm, Jan-Egbert, 2022. "How similar are country- and sector-responses to common shocks within the euro area?," Journal of International Money and Finance, Elsevier, vol. 120(C).

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    More about this item

    Keywords

    OCA theory; Business cycles; Time-series comovements; Wavelet coherence; Phase shift;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F15 - International Economics - - Trade - - - Economic Integration
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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