In this paper, we put forth the view that the potential for urbanisation economies increases with interaction opportunities. On the basis of that premise, three properties are key to an agglomeration index, which should: (i) increase with the concentration of population and conform to the...

This paper investigates the identification and dating of the European business cycle, using different methods. We concentrate on methods and statistical series that provides timely and accurate information about the contemporaneous state of the economy in order to provide the reader with a...

This paper analyzes if each European country presents business cycles that are similar enough to validate what some authors call the European cycle. Contrary to the majority of papers on business cycles, we concentrate on the appearance of the cycle, not on the synchronization. We provide a...

One of the most extended empirical stylized facts about output dynamics in the United States is the positive autocorrelation of output growth. This paper shows that the positive autocorrelation can be better captured by shifts between business cycle states rather than by the standard view of...

The purpose of this paper is to study the determinants of equilibrium in the market for daily funds. We use the EONIA panel database which includes daily information on the lending rates applied by contributing commercial banks. The data clearly shows an increase in both the time series...

We propose a comprehensive methodology to characterize the business cycle comovements across European economies and some industrialized countries, always trying to leave the data speak. Out of this framework, we propose a novel method to show that there is no an Euro economy that acts as an...