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The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
As regards the frequently mentioned risks connected with the EU entry, we feel that the analyzed macroeconomic data do not confi rm that these risks have materialized. The example of the Czech Republic, which joined the EU in 2004, conversely points to an improvement of most macroeconomic...
Persistent link: https://www.econbiz.de/10005036391
comparable data from five countries - Sweden, Belgium, Germany, Norway and the U.S. - to ask whether immigrants benefit more from …
Persistent link: https://www.econbiz.de/10003362259
In this paper, we map the process of synchronization of the Visegrad Four within the framework of the European Union using the wavelet techniques. In addition, we show that the relationship of output and key macroeconomic indicators is dynamic and varies over time and across frequencies. We...
Persistent link: https://www.econbiz.de/10011280715
In this paper, we map the process of synchronization of the Visegrad Four within the framework of the European Union using wavelet techniques. We show that the relationship of among countries is dynamic and that it varies over time and across frequencies. We study the synchronization applying...
Persistent link: https://www.econbiz.de/10011305160
Persistent link: https://www.econbiz.de/10009267155
, this paper analyzes regime shifts in the stochastic process of economic growth in the US, Japan and Europe over the last … the US and Japan based on an output-employment MS vector equilibrium correction model, and a structural break in the … in the business cycles pattern. In the case of Japan we identify long episodes of rapid economic expansions (existing …
Persistent link: https://www.econbiz.de/10010605151
This paper intends to harmonize two different approaches to the analysis of the business cycle and in doing so it retrieves the stylized facts of the business cycle in Europe. We start with the `classical` approach proposed in Burns and Mitchell (1946) of dating and analyzing the business cycle;...
Persistent link: https://www.econbiz.de/10010605263
This paper deals with the existence and identification of a common European growth cycle. Univariate Markov switching autoregressions (MS-AR) are used for individual countries in order to detect changes in the mean growth rate of industrial production. A Markov switching vector autoregression...
Persistent link: https://www.econbiz.de/10005063214
This paper deals with the existence and identification of a common European Growth Cycle. It has recently been argued that the formation of a monetary union creates in itself a tendency for business cycle symmetry to emerge. If this holds for the European monetary Union and the quasi-union of...
Persistent link: https://www.econbiz.de/10005114243