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-country multi-sector dynamic general equilibrium model to one region within the euro area, the rest of the euro area and the rest of … euro area can favor an earlier exit from the ZLB if they have sufficiently inflationary effects, which happens when the …
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Since the 1970s the characteristics of international business cycles have changed and deeper economic integration has modified the features of cross-country comovement. We formally test for correlation shifts in measures of real economic activity and economic/financial integration. In Europe we...
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synchronization patterns in business cycles. The Eurozone has converged to a stable lower level of dispersion across business cycles …
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We propose the analysis of the dynamics of the standard deviation of business cycles across euro area countries in … euro area including all the new members of the recent enlargements does not imply a sizeable decrease in the optimality of …
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the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality …
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