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, we also examine the determinants of business cycle synchronization for the countries in our sample. In contrast to … earlier studies which seek to account for such synchronization using gravity arguments as well as trade intensity and …
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cycle features. Business cycle synchronization is tightly related to similarities in the institutional environment …
Persistent link: https://www.econbiz.de/10010500213
Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...
Persistent link: https://www.econbiz.de/10010500234
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We analyze the role of fiscal policy and intra-European trade in business cycle synchronization in the EU for the … between trade integration and cyclical synchronization are subject to endogeneity problems. We instrument fiscal budget … trade integration are important determinants of cyclical synchronization. We can conclude that once a high degree of trade …
Persistent link: https://www.econbiz.de/10011392349
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We study the synchronization of credit booms and busts among 12 major European economies and the United States between … credit cycle synchronization. …
Persistent link: https://www.econbiz.de/10011299045
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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