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Cross-Border Production Chains and Business Cycle Co-Movement between Central and Eastern European Countries and Euro Area Member States
Iossifov, Plamen K. - 2021
changes in inventories. We then present evidence of the importance of cross border production chains for the economies of CEE … countries in Central and Eastern Europe (CEE) and the euro area. We start off by demonstrating that the degree of … synchronization of the business cycles of CEE countries and their main trade partners from the euro area has increased in recent years …
Persistent link: https://www.econbiz.de/10013315647
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GDP-Inflation Cyclical Similarities in the CEE Countries and the Euro Area
Macchiarelli, Corrado - 2013
In this paper we look at business cycles similarities between CEE countries and the euro area. Particularly, we uncover …
Persistent link: https://www.econbiz.de/10013081633
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Business Cycle Convergence or Decoupling? Economic Adjustment in CESEE During the Crisis
Gächter, Martin - 2014
We analyze business cycle convergence in the EU by focusing on the decoupling vs. convergence hypothesis for central, eastern and south eastern Europe (CESEE). In a nutshell, we fnd that business cycles in CESEE have decoupled considerably from the euro area (EA) during the financial crisis in...
Persistent link: https://www.econbiz.de/10013064345
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Are Monetary Unions More Synchronous than Non-Monetary Unions?
Crowley, Patrick M. - 2015
Within currency unions, the conventional wisdom is that there should be a high degree of macroeconomic synchronicity between the constituent parts of the union. But this conjecture has never been formally tested by comparing sample of monetary unions with a control sample of countries that do...
Persistent link: https://www.econbiz.de/10013017299
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Tracking global economic uncertainty : implications for the euro area
Bobasu, Alina; Geis, André; Quaglietti, Lucia; Ricci, … - 2021
This paper sheds light on the impact of global macroeconomic uncertainty on the euro area economy. We build on the methodology proposed by Jurado et al. (2015) and estimate global as well as country-specific measures of economic uncertainty for fifteen key euro area trade partners and the euro...
Persistent link: https://www.econbiz.de/10012503567
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Chinese supply chain shocks
Khalil, Makram; Weber, Marc-Daniel - 2022
In structural vector autoregressive models of United States and euro area manufacturing, we use sign restrictions to identify shocks that alter the frictions to Chinese supply chain trade. We find a quantitatively significant role of such shocks for the decline of US manufacturing output at the...
Persistent link: https://www.econbiz.de/10013459723
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Who will be the next in line to join the Euro Area? : a business cycle synchronization evidence
Duarte, António Portugal; Silva, Nuno Baetas da; … - 2022
The aim of this paper is to investigate business cycle synchronization between seven candidate countries to the Euro Area (EA) - Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania and Sweden - and the Euro Area (EA-12/EA-19), France and Germany. The Hodrick-Prescott filter is used to...
Persistent link: https://www.econbiz.de/10013191264
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Adjustment dynamics and business cycle heterogeneity in the EMU : evidence from estimated DSGE models
Giovannini, Massimo; Hohberger, Stefan; Ratto, Marco; … - 2019
The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States (DE, FR, IT, ES). We compare the response of the four countries to identical shocks and find a particularly strong response of employment and wages in ES, a high sensitivity of...
Persistent link: https://www.econbiz.de/10012268789
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Adjustment dynamics and business cycle heterogeneity in the EMU : evidence from estimated DSGE models
Giovannini, Massimo; Hohberger, Stefan; Ratto, Marco; … - 2018
The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States (DE, FR, IT, ES). We compare the response of the four countries to identical shocks and find a particularly strong response of employment and wages in ES, a high sensitivity of...
Persistent link: https://www.econbiz.de/10012054993
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Business and financial cycles in the Eurozone : synchronization or decoupling
Ahmed, Jameel; Chaudhry, Sajid M.; Straetmans, Stefan - 2015
This paper proposes a novel approach, based on probit framework, towards measuring business cycle synchronization for 9 eurozone economies. We find strong cross-country synchronization in both business cycles and financial cycles. Moreover, financial synchronization dominates business cycle...
Persistent link: https://www.econbiz.de/10012010454