integration impacts positively on business cycle comovements of economies. We consider three Western equity markets, represented … high frequencies have become less pronounced; (ii) the European markets are in phase at business cycle frequency, while the … findings of traditional business cycle research, and it has the advantage of using only readily available stock market data. …

Euro as a common currency. This study applies two methods of business-cycle analysis (cross-correlations and Markov … switching approaches) to seven countries in these regions. Both methods find evidence of a single Baltic common cycle for both … output and consumption, while a Nordic cycle exists only for output, and there is no single common Baltic-Nordic cycle. Tests …