Artis, Michael J.; Dreger, Christian; Cholodilin, … - 2009
We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model … with spatial correlation indicate that the relevance of common business cycle factors is rather stable over the past two … decades in the euro area and the US. Ongoing business cycle convergence often detected in a country data is not confirmed at …