Pentecôte, Jean-Sébastien; Poutineau, Jean-Christophe; … - Centre de Recherche en Économie et Management (CREM) - 2013
This paper questions the impact of trade integration on business cycle synchronization in the EMU by distinguishing … model, we find that synchronization is weakened when new firms are allowed to export in response to productivity gains … trade intensity has a positive direct effect while new trade flows have a negative effect on business cycle synchronization …