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Has the Euro-Mediterranean partnership affected Mediterranean business cycles?

Listed author(s):
  • Canova, Fabio
  • Schlaepfer, Alan
Registered author(s):

    We date turning points of the reference cycle for 19 Mediterranean countries and analyze their structure and interdependencies. Fluctuations are volatile and not highly correlated across countries; recessions are deep but asynchronous, the distribution of output losses in recessions spread out. Heterogeneities across countries and regions are substantial. Cyclical fluctuations are poorly related to trade and financial linkages. Mediterranean cycles are time varying but their evolution is not linked with the Euro-Mediterranean partnership process.

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    Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 10023.

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    Date of creation: Jun 2014
    Handle: RePEc:cpr:ceprdp:10023
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