business cycle. There are strong industry specific effects of monetary policy actions and communication. These industry effects …

productivity, given all available information; the cycle is thus interpreted as the total excess growth that would be forecasted … those generated by the Hodrick-Prescott filter and with the business cycle data of the OECD. The stability and predictive …

trend and cycle when the variable is integrated of order one (I (1)). This paper considers the multivariate generalization …

determinants of business cycle synchronization for the countries in our sample, we also demonstrate that the bilateral proximity of … continents. We derive the business cycle characteristics using the nonparametric Harding-Pagan approach. Our analysis reveals …

duration of expansions is shorter; the amplitude and the output costs of recessions are larger; and cyclical synchronization is … synchronization. By contrast, differences in cultural indicators account for relative differences in the persistence, the volatility … and the synchronization of cyclical fluctuations. Theoretical and policy implications are discussed. …

This paper analyses the synchronization of business cycles between new and old EU members using various measures. The … main findings are that Hungary, Poland and Slovenia have achieved a high degree of synchronization for GDP, industry and … exports, but not for consumption and services. The other CEECs have achieved less or no synchronization. There has been …

We propose a comprehensive methodology to characterize the business cycle comovements across European economies and …

This paper deals with the existence and identification of a common European Growth Cycle. It has recently been argued … that the formation of a monetary union creates in itself a tendency for business cycle symmetry to emerge. If this holds … we might already expect to be able to find an emergent 'European cycle' which will become more dominant in future years …