The microstructural approach to the exchange rate market claims that order flows on a currency can accurately reflect the short-run dynamics of its exchange rate. In this paper, instead of focusing on order flows analysis we employ an alternative microstructural approach: We focus on investors'...

We empirically test the effects of unanticipated fiscal policy shocks on the growth rate and the cyclical component of real private output and reveal different types of asymmetries in fiscal policy implementation. The data used are quarterly U.S. observations over the period 1967:1 to 2011:4. In...

This survey provides an up-to-date summary of the literature that relates to the study of business cycle synchronization. Various paths have been followed through time in empirically testing business cycle co-movement and different data sets have been explored so that to date consensus still...