The Characteristics of Business Cycles in Selected European Emerging Market Economies
This paper analyses the business cycles of selected European emerging market economies (EME) in terms of their statistical properties and degree of synchronization with the euro area, and discusses the associated policy implications. The evidence suggests that in these economies cyclical fluctuations are wider and more frequent than in the euro area, that there is moderate consumption smoothing, and that technological shocks and labour hoarding are driving labour-market dynamics. The macroeconomic policy stance is not significantly countercyclical. Furthermore, the degree of synchronization of domestic business cycles with the business cycle of the euro area is weak in all the EME except Hungary and Poland.
|Date of creation:||Dec 2005|
|Date of revision:|
|Publication status:||Published in UNECE Discussion Paper Series, No. 2005_7|
|Contact details of provider:|| Postal: Palais des Nations, CH - 1211 Geneva 10|
Phone: +4122 917 44 44
Fax: +4122 917 05 05
Web page: http://www.unece.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ece:dispap:2005_7. 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: (Robert Shelburne)
If references are entirely missing, you can add them using this form.