Konjunkturcykler i Danmark og Europa

Several countries at the core of the Euro area have experienced co - in cident business cycles during the most recent decades, while the Danish economy seemed detached from these cycles during the 1980’s and part of the 1990’s. To a large degree, the decoupling of the Danish economy reflects fundamental changes in the Danish economic policy during this period. Towards the end of the 1990’s a remarkable business-cycle convergence occurred between most of the industrialised countries, as documented in a series of empirical analyses. In the same period, the correlation be - tween Danish and Euro area business cycles increased markedly. Over the most recent years, however, this global convergence has decreased again, while the correlation between Euro-area core economies has remained high. The Danish economy has also main tained a relatively high business-cycle correlation with the Euro-area core countries.