Gomez, David Matesanz; Ortega, Guillermo J.; Torgler, Benno - Center for Research in Economics, Management and the … - 2012
This paper analyses synchronization in business cycles across the European Union (EU) since 1989. We include both old … European economic system. The results indicate that the synchronization of the old EU countries remained stable until the … current financial crisis. Additionally, the synchronization of the new and potential members has approached to the old EU …