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Macroeconomic Aspects of European Integration: Fiscal Policy, Trade Integration and the European Business Cycle

Crespo-Cuaresma, Jesús; Pfaffermayr, Michael; Amador, … - 2011

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/10011345634

Institutions and business cycles

Altug, Sumru; Emin, Mustafa; Neyapti, Bilin - 2011

, 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 …

Persistent link: https://www.econbiz.de/10010273647

(Since When) Are East and West German Business Cycles Synchronised?

Gießler, Stefan; Heinisch, Katja; Holtemöller, Oliver - In: Jahrbücher für Nationalökonomie und Statistik (2020) Ahead of Print, pp. 1-28

We analyze whether, and since when, East and West German business cycles are synchronised. We investigate real GDP, unemployment rates and survey data as business cycle indicators and we employ several empirical methods. Overall, we find that the regional business cycles have synchronised over...

Persistent link: https://www.econbiz.de/10012300092

Financial integration and the co-movement of economic activity: Evidence from U.S. states

Götz, Martin; Gozzi, Juan Carlos - 2021

We analyze the effect of the geographic expansion of banks across U.S. states on the co-movement of economic activity between states. Exploiting the removal of interstate banking restrictions to construct time-varying instrumental variables at the state-pair level, we find that bilateral banking...

Persistent link: https://www.econbiz.de/10012658052

Regionalization vs. Globalization

Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher - 2013

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

China and the World economy: Wavelet spectrum analysis of business cycles

Poměnková, Jitka; Fidrmuc, Jarko; Korhonen, Iikka - 2014

-movement synchronization between G7 countries and China is shown to have undergone frequent and large changes during our sample period. The co …-movements for business cycle frequencies are generally different from those for other frequencies, and synchronization with China … synchronization at business-cycle frequency. We find a significant relationship between the time-varying wavelet measure of …