This paper studies the intranational business cycle -that is the set of regional (prefecture) business cycles- in Japan. One reason for choosing to examine the Japanese case is that long time series and relatively detailed data are available. A Hodrick-Prescott filter is applied to identify the...

We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model with spatial correlation indicate that the relevance of common business cycle factors is rather stable over the past two decades in the euro area and the US. Ongoing business...

The Review is pleased to give hospitality to CLARE Group articles, but is not necessarily in agreement with the views expressed. Members of the CLARE Group are M.J. Artis, T. Besley, A.J.C. Britton, W.J. Carlin, J.S. Flemming, C.A.E. Goodhart, J.A. Kay, R.C.O. Matthews, D.K. Miles, M.H. Miller,...

The National Institute had planned a seminar to mark the launch of Christopher Dow's new book Major Recessions. The seminar had to be cancelled, because Christopher Dow died a few days before it was due to be held. As some kind of substitute, the CLARE Group decided to publish this review...