Afonso, António; Furceri, Davide - ISEG - School of Economics and Management, Department … - 2007
This paper analyses sectoral business cycle synchronization in an enlarged European Union using annual data for the … period 1980-2005. In particular, we try to identify which sector for each country is driving the aggregate output business … share, shows a relative low business cycle synchronization and volatility, implying that it contributes only marginally to …