Deeper trade integration between Central America and the United States, as envisaged under the Central American Free Trade Agreement, is likely to lead to closer links between Central American and U.S. business cycles. This article assesses the degree of business cycle synchronization between...

Summary In pursuing their plans economic agents regularly have to adjust their pacing of orders, production, and deliveries in unanticipated ways. Information constraints turn many of these adjustments into myopic reactions to accelerations/decelerations observed in the activity level of...

Purpose – The purpose of this paper is to investigate the extent to which the authors can use internet search data in order to capture the impact of the 2008 Financial and Economic Crisis on well-being. Design/methodology/approach – The authors look at the G8 countries with a special focus...

Summary A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable...

Abstract In mid-2013 the macroeconomic situation in European crisis economies started to show signs of recovery. In the political debate, improving economic conditions were often attributed to recently enacted structural reforms. In this paper, we use empirical business cycle models to...

While we are observing some “green shoots,” it is too soon to speak of a recovery. We can, however, identify some key forces that are likely to shape any future growth path.

Purpose – The aim of the paper is to discuss developments in non-residential real estate in Greece. Design/methodology/approach – Given the lack of existing literature, the authors start by discussing at length the data sources available, and analyzing the stylized facts of non-residential...

It is a common assertion that, in a world with perfect markets and rational expectations, endogenous cycles could only arise under very unrealistic assumptions. This paper offers a short discussion on this claim and a review of the relevant contributions to the literature on deterministic...