a long sample period. We also analyze the impact of the COVID-19 pandemic on business cycle coherence and examine … whether our measures for business cycle coherence indicate a core versus periphery within EMU. Our results suggest that … business cycle coherence did not increase monotonically. The COVID-19 pandemic made that the signs of the output gaps of euro …

business cycle implications of turbulence shocks, we use Compustat data to construct a measure of turbulence based on the … stock market value of firms. A real business cycle model with heterogeneous firms and financial frictions can generate the …

drive the news-driven business cycle, generating immediate stock price reactions and gradually building output effects but …