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Business cycle synchronization and insurance mechanisms in the EU

Afonso, António; Furceri, Davide - 2007

In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...

Persistent link: https://www.econbiz.de/10011604890

Measuring the Business Cycle Similarity and Convergence Trends in the CEECs Towards the Eurozone with Respect to some Unclear Methodological Aspects

Rozmahel, Petr - 2009

The adoption of the Euro by Slovakia from January 2009 and the current world economic crises revived a debate on the timing of the adoption of the Euro in the Czech Republic and other CEECs. The purpose of the paper is to contribute to a discussion on the process of joining the Eurozone by the...

Persistent link: https://www.econbiz.de/10011435274

Towards a monthly business cycle chronology for the euro area

Mönch, Emanuel; Uhlig, Harald - 2005

This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine. we construct several monthly series of Euro area GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration...

Persistent link: https://www.econbiz.de/10010319190

Convergence in GDP per Capita in the Euro Area and the EU at the Time of COVID-19

Licchetta, Mirko; Mattozzi, Giovanni - In: Intereconomics 58 (2023) 1, pp. 43-51

This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...

Persistent link: https://www.econbiz.de/10014334683

Cointegration analysis with state space models

Wagner, Martin - 2010

This paper presents and exemplifies results developed for cointegration analysis with state space models by Bauer and … Wagner in a series of papers. Unit root processes, cointegration and polynomial cointegration are defined. Based upon these … employed for cointegration analysis. By means of detailing the cases most relevant for empirical applications, the I(1), MFI(1 …

Persistent link: https://www.econbiz.de/10010294007

Short-run and long-run comovement of GDP and some expenditure aggregates in Germany, France and Italy

Knetsch, Thomas A. - 2005

-specific data sets, cointegration analyses are carried out both to identify long-run economic relationships and to remove the trend …

Persistent link: https://www.econbiz.de/10010295784

Some aspects of the discrete wavelet analysis of bivariate spectra for business cycle synchronisation

Bruzda, Joanna - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-16, pp. 1-46

The paper considers some of the issues emerging from the discrete wavelet analysis of popular bivariate spectral quantities such as the coherence and phase spectra and the frequency-dependent time delay. The approach utilised here is based on the maximal overlap discrete Hilbert wavelet...

Persistent link: https://www.econbiz.de/10010306878

Measuring Synchronisation and Convergence of Business Cycles

Koopman, Siem Jan; e Azevedo, Joao Valle - 2003

This paper investigates business cycle relations among different economies in theEuro area. Cyclical dynamics are explicitly modelled as part of a time series model. Weintroduce mechanisms that allow for increasing or diminishing phase shifts and for time-varyingassociation patterns in different...

Persistent link: https://www.econbiz.de/10010325030

Forecast for the European Economy

Leibfritz, Willi - In: CESifo Forum 02 (2001) 1, pp. 21-27

Persistent link: https://www.econbiz.de/10011695643

Business cycle convergence in EMU: A second look at the second moment

Crespo-Cuaresma, Jesús; Fernández-Amador, Octavio - 2010

We analyse the dynamics of the standard deviation of demand shocks and of the demand component of GDP across countries in the European Monetary Union (EMU). This analysis allows us to evaluate the patterns of cyclical comovement in EMU and put them in contrast to the cyclical performance of the...

Persistent link: https://www.econbiz.de/10010294756

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