The identification of a possible European business cycle has been inconclusive and is complicated by the enlargement to the new member states and their transition to market economies. This paper shows how to decompose a business cycle into a time-frequency framework in a way that allows us to...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...

This paper explores the relationship between the quarterly values of the Romanian exports and of the Gross Domestic Product for the period 2007-2014, which was marked by the consequences of the adhesion to European Union and by the global crisis. In this analysis we employ cointegration tests,...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...

This paper tests the hypothesis that the links and leadership/dependency relationships between the People's Republic of China (PRC), the United States (US), and the other large Asian economies have changed over the past 20 years with the industrialization of the PRC economy. We use time-varying...

Economic and monetary union (EMU) implies the acceleration of an ongoing process of real convergence, whereby worker productivity, income and price levels tend to equalise across the euro area. Over the next 10?30 years, as real convergence takes place, trend inflation will be higher in poorer...

The paper addresses some of the macroeconomic implications of the simultaneous pursuit of the goals of nominal and real convergence in the presence of a fast and sustained catch-up process. It is argued that when pursued simultaneously, nominal and real convergence may give rise to conflicting...

In this paper, the existence of income convergence or income divergence is investigated on ten selected OIC (the Organisation of Islamic Conference) economies. The results are then linked to the degree of openness of the countries using globalization indices. In order to investigate the...

This paper addresses issues connected with economic growth, how the theory on it has changed and also what its potential determinants are. In order to do so, the panel data was constructed for 129 countries with the time period of 1975-2015. In addition to this, the paper also accounts for the...

Abstract The last 50 years have produced a series of revolutionary technological changes. These decades have also witnessed a truly revolutionary systemic change at the global level. The change started with step-wise internal liberalisations and deregulations in the major industrialised...