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Persistent link: https://www.econbiz.de/10011576998
balances, the common monetary policy may not be optimal for all of them. Euro area imbalances for potential output and for …
Persistent link: https://www.econbiz.de/10011587915
In this paper we argue that in contrast to the conclusion of Artis and Zhang, there is not much evidence in support of the view that increased exchange rate stability is related to more synchronised business cycles in Europe. This finding may have important consequences, as existing differences...
Persistent link: https://www.econbiz.de/10009781543
This paper addresses the issues of identification and dating of the Euro-zone business cycle by using the Markov … growth in the Euro-zone are identified by fitting Markov-switching models to aggregated and single-country Euro-zone real GDP … the smoothed regime probabilities from the Markov-switching models the Euro-zone business cycle is dated and recessions …
Persistent link: https://www.econbiz.de/10010493798
Persistent link: https://www.econbiz.de/10001653584
Persistent link: https://www.econbiz.de/10001569757
In this paper we argue that in contrast to the conclusion of Artist and Zhang, there is not much evidence in support of the view that increased exchange rate stability is related to more synchronised business cycles in Europe. This finding may have important consequences, as existing differences...
Persistent link: https://www.econbiz.de/10001474344
Persistent link: https://www.econbiz.de/10001860187
Introducing the approach by Masanao Aoki (1981) to time series econometrics, we show that the dynamics of symmetric linear possibly cointegrated two-country VAR models can be separated into two autonomous subsystems: the country averages and country differences, where the latter includes the...
Persistent link: https://www.econbiz.de/10010228330
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