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DO trade and technology reduce asymmetries? Evidence from manufacturing industries in the EU

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  • R. Paci
  • R. Rovelli

Abstract

Are asymmetric shocks to output less important for industries which are more open to trade and more technology-intensive? Our results, obtained from a correlation analysis between growth rates of value added in thirteen manufacturing industries in eleven European countries between 1979 and 1990, clearly support the hypothesis. This finding suggests that policies which promote trade and technological innovation may help to decrease the importance of the asymmetric components of the business cycle within European countries.

Suggested Citation

  • R. Paci & R. Rovelli, 1997. "DO trade and technology reduce asymmetries? Evidence from manufacturing industries in the EU," Working Papers 301, Dipartimento Scienze Economiche, Universita' di Bologna.
  • Handle: RePEc:bol:bodewp:301
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    1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
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    3. Costello, Donna M, 1993. "A Cross-Country, Cross-Industry Comparison of Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 207-222, April.
    4. Helg, Rodolfo & Manasse, Paolo & Monacelli, Tommaso & Rovelli, Riccardo, 1995. "How much (a)symmetry in Europe? Evidence from industrial sectors," European Economic Review, Elsevier, vol. 39(5), pages 1017-1041, May.
    5. Bayoumi, Tamim & Prasad, Eswar, 1995. "Currency Unions, Economic Fluctuations and Adjustment: Some Empirical Evidence," CEPR Discussion Papers 1172, C.E.P.R. Discussion Papers.
    6. Heston, Steven L. & Rouwenhorst, K. Geert, 1994. "Does industrial structure explain the benefits of international diversification?," Journal of Financial Economics, Elsevier, vol. 36(1), pages 3-27, August.
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    Cited by:

    1. C. Antonelli & R. Marchionatti & S. Usai, 2000. "Productivity and External Knowledge: The Italian Case," Working Paper CRENoS 200009, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    2. Simona Iammarino & Grazia D. Santangelo, 2001. "The Evolution of Trade and Technological in the Italian regions," ERSA conference papers ersa01p243, European Regional Science Association.
    3. Fabrizio Erbetta & Luca Agnello, 2001. "The martingales: theoretical and empirical characteristics," CERIS Working Paper 200107, Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY -NOW- Research Institute on Sustainable Economic Growth - Moncalieri (TO) ITALY.
    4. M. Musumeci, 2000. "Innovazione tecnologica e beni culturali. Uno studio sulla situazione della Sicilia," Working Paper CRENoS 200008, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    5. Giovanna Segre, 2000. "Foreign Direct Investment and Trade in the EU: Are They Complementary or Substitute in Business Cycles Fluctuations?," CERIS Working Paper 200007, Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY -NOW- Research Institute on Sustainable Economic Growth - Moncalieri (TO) ITALY.
    6. LR. Keller & E. Strazzera, 2000. "Examining predictive models among discounting models," Working Paper CRENoS 200005, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    7. R. Carcangiu & G. Sistu & S. Usai, 1999. "Struttura socio-economica dei comuni della Sardegna. Suggerimenti da un'analisi cluster," Working Paper CRENoS 199903, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    8. R. Naylor, 2001. "Firm profits and the number of firms under unionised oligopoly," Working Paper CRENoS 200109, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    9. R. Naylor, 2001. "Industry profits and market size under bilateral oligopoly," Working Paper CRENoS 200108, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.

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