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This paper aims at the production of a chronology for the EU15 business cycle by comparing parametric and non … series for the EU15 Gross Domestic Product (GDP) and the EU15 Industrial Production Index (IPI) from 1970 to 2003. The … monthly IPI and the quarterly GDP at the EU15 level have been reconstructed starting from the available national series. The …
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This paper studies the behavior of sovereign spreads of countries in the European Monetary Union (EMU) and their apparent disconnection with country-specific fundamentals before the 2008- 2013 debt crisis. We test three characteristics of spreads: i) a change in the level of spreads, ii) a weak...
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