Measuring business cycle comovements in Europe: Evidence from a dynamic factor model with time-varying parameters

Estimation results from a dynamic factor model confirm an increase in output synchronization across European countries during the run-up to the inception of EMU, but EMU by itself has not continued to foster the emergence of a common business cycle.

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Year of publication:	2012
Authors:	Lee, Jim
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 115.2012, 3, p. 438-440
Publisher:	Elsevier
Subject:	Output comovement \| EMU \| Dynamic factor model \| Time-varying parameters

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Type of publication:	Article
Classification:	C13 - Estimation ; E3 - Prices, Business Fluctuations, and Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010572194