Antonakakis, N.; Tondl, G. - In: Empirica 41 (2014) 3, pp. 541-575
synchronization (BCS) in the EU. We estimate the effects of market integration and economic policy coordination on bilateral business … positive effect on BCS, particularly between incumbent and new EU members. (2) Rising specialization does not decouple business … cycles. (3) The decline of income disparities in EU27 contributes to BCS, as converging countries develop stronger trade and …