A Fresh Look At Business Cycle Synchronisation In The Euro Area PDF Download
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Author | : Christian Gayer |
Publisher | : |
Total Pages | : 52 |
Release | : 2007 |
Genre | : Business |
ISBN | : |
Download A Fresh Look at Business Cycle Synchronisation in the Euro Area Book in PDF, ePub and Kindle
Author | : Marcus Kappler |
Publisher | : Springer Science & Business Media |
Total Pages | : 197 |
Release | : 2012-07-30 |
Genre | : Business & Economics |
ISBN | : 3790828556 |
Download Business Cycle Synchronisation and Economic Integration Book in PDF, ePub and Kindle
This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.
Author | : Christos S. Savva |
Publisher | : |
Total Pages | : 29 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download Business Cycle Synchronization of the Euro Area with the New and Negitiating Member Countries Book in PDF, ePub and Kindle
Author | : Silvia Palasca |
Publisher | : GRIN Verlag |
Total Pages | : 15 |
Release | : 2013-06-05 |
Genre | : Business & Economics |
ISBN | : 3656443033 |
Download Business Cycles Syncronaziation in Europe Book in PDF, ePub and Kindle
Essay from the year 2013 in the subject Economics - Monetary theory and policy, Alexandru Ioan Cuza University of Iasi, language: English, abstract: The European Union sets the premises for the appearance of a new phenomenon in the global economic setting: the synchronization of the national business cycles. The aim of this article is to statistically prove the existence of a Euro are business cycle through the study of a classic indicator- the annual change of the GDP and also through the use of foreign trade indicators-the annual changes in exports in imports. Also, it is important, at the end, to choose the best of these indicators or a combination thereof to use as a benchmark for further studies. The empiric study is useful to classify the European countries in clusters according to synchronization, a first step in adopting common policies.
Author | : Lucrezia Reichlin |
Publisher | : Centre for Economic Policy Research |
Total Pages | : 103 |
Release | : 2004 |
Genre | : Business cycles |
ISBN | : 1898128839 |
Download The Euro Area Business Cycle Book in PDF, ePub and Kindle
Author | : Mr.Ayhan Kose |
Publisher | : International Monetary Fund |
Total Pages | : 51 |
Release | : 2008-06-01 |
Genre | : Business & Economics |
ISBN | : 1451870019 |
Download Global Business Cycles Book in PDF, ePub and Kindle
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
Author | : António Portugal Duarte |
Publisher | : |
Total Pages | : |
Release | : 2022 |
Genre | : |
ISBN | : |
Download Who Will be the Next in Line to Join the Euro Area? Book in PDF, ePub and Kindle
The aim of this paper is to investigate business cycle synchronization between seven candidate countries to the Euro Area (EA) - Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania and Sweden - and the Euro Area (EA-12/EA-19), France and Germany. The Hodrick-Prescott filter is used to decompose the real Gross Domestic Product into trend and cyclical components for the period 1995Q1-2019Q4. The results point to the existence of a strong business cycle synchronization between Sweden and the Euro Area, Germany, and France. The second highest correlation was observed for the Czech Republic followed by Hungary, Poland and Croatia. In contrast, Bulgaria and Romania show the weakest business cycle synchronization with both the Euro Area and the core economies. We conclude that Sweden is the most prepared country to be the next passenger in the single currency train from the perspective of business cycle synchronization.
Author | : Jarko Fidrmuc |
Publisher | : |
Total Pages | : 40 |
Release | : 2004 |
Genre | : Economics |
ISBN | : |
Download A Meta-analysis of Business Cycle Correlation Between the Euro Area and the CEECs Book in PDF, ePub and Kindle
Tiivistelmä.
Author | : Jarko Fidrmuc |
Publisher | : |
Total Pages | : 20 |
Release | : 2003 |
Genre | : |
ISBN | : 9789516868618 |
Download The Euro Goes East Book in PDF, ePub and Kindle
We assess the correlation of supply and demand shocks between current countries in the euro area and EU accession candidates from 1993/1995 to 2002. Supply and demand shocks are recovered from estimated structural VAR models of output growth and inflation. Notably, the economic slowdown between 2000 and 2002 increased heterogeneity of business cycles between the euro area and acceding counties. We find that several acceding countries have a quite high correlation of underlying shocks with the euro area and conclude that continuing integration within the EU is likely to align the business cycles of these countries in a manner similar to the synchronisation of supply and demand shocks we document for the EU in the 1990s. Published in: Comparative Economic Studies vol. 46 no 1 (2004) pp. 45-62, ISSN 0888-7233.
Author | : Ms.Valerie Cerra |
Publisher | : International Monetary Fund |
Total Pages | : 50 |
Release | : 2020-05-29 |
Genre | : Business & Economics |
ISBN | : 1513536990 |
Download Hysteresis and Business Cycles Book in PDF, ePub and Kindle
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.