Does Switzerland share common business cylces with other European countries?
Contemporaneous comovements of aggregated output time series between industrialized countries represent an important characteristic of the international business cycle and have already been well documented. This paper shows that a small open economy like Switzerland shares common short term GDP fluctuations with other European countries, independently of the specific definitions used for the common component. The serial correlation common feature (SCCF) hypothesis of ENGLE and KOZICKI (1993) and also the univariate and multivariate structural time series models (HARVEY, 1989) are presented and applied. Sharing common short-term economic fluctuations with other European countries has various economic policy implications for Switzerland. This last issue is commented in the light of the new commom monetary policy framework in the Euro area, since the beginning of 1999.
Volume (Year): 136 (2000)
Issue (Month): I (March)
|Contact details of provider:|| Postal: c/o SNB/BNS, Börsenstrasse 15, PO Box 2800, CH-8022 Zürich|
Phone: +41 58 631 32 34
Web page: http://www.sjes.ch
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ses:arsjes:2000-i-3. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Steiner)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.