This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism.

This paper shows that the EMU has not affected historical characteristics of member countries’ business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...

This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...

This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism.

In his Annual Presidential Address to the Federal Assembly on 30 November 2016, Russian President Vladimir Putin underscored Russia's goal to catch up with the world average growth rates by 2019–2020. As a reminder, the IMF projects 3.7% for the average annual growth rate of the global economy...

In the euro area, there is mixed evidence that the GDP per capita of lower-income economies has been catching up with that of higher-income economies since the start of monetary union. The significant real convergence performance of some of the most recent members contrasts with that of the...

The RF Ministry of Economic Development presented three scenarios in its socioeconomic development forecast for 2016, which envisaged that the GDP decline trajectory would hit its lowest point in 2015 (-3.9%), and the rate of GDP growth would be fluctuating somewhere between (-1.0) and 2.3% in...

The results of the estimates obtained using the Gaidar Institute method of decomposing Russia's GDP growth rates show that in 2015 all of the components of economic growth rates will make them negative. Furthermore, the current economic contraction is mostly of structural nature induced by the...