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The Crisis Sensitivity of European Countries and Regions : Stylized Facts and Spatial Heterogeneity

Groot, Stefan P. T. - 2011

This paper investigates the impact of the recent global recession on European countries and regions. We first present several stylized facts as to the heterogeneous impact of the global recession on individual European countries and regions. We then offer an investigation of three main classes...

Persistent link: https://www.econbiz.de/10013126036

Business Cycle Synchronisation in EU : A Time-Varying Approach

Degiannakis, Stavros Antonios - 2018

This paper investigates the time-varying correlation between the EU12-wide business cycle and the initial EU12 member-countries based on Scalar-BEKK and multivariate Riskmetrics model frameworks for the period 1980-2012. The paper provides evidence that changes in the business cycle...

Persistent link: https://www.econbiz.de/10012910120

Inter-industry trade and business cycle dynamics

Lechthaler, Wolfgang; Mileva, Mariya - 2016

Motivated by the increased importance of trade between industrialized and less-developed countries, we build a DSGE model featuring comparative advantage and inter-industry trade to analyze business cycle dynamics of industrialized countries. We show that productivity shocks lead to shifts in...

Persistent link: https://www.econbiz.de/10011478292

Understanding the cross-country effects of US technology shocks

Miyamoto, Wataru; Nguyen, Thuy Lan - 2017

Business cycles are substantially correlated across countries. Yet most existing models are not able to generate substantial transmission through international trade. We show that the nature of such transmission depends fundamentally on the features determining the responsiveness of labor supply...

Persistent link: https://www.econbiz.de/10011662021

Spillovers from China's Growth Slowdown and Rebalancing to the ASEAN-5 Economies

Dizioli, Allan - 2016

After many years of rapid expansion, China's growth is slowing to more sustainable levels and is rebalancing, with consumption becoming the main growth driver. This transition is likely to have negative effects on its trading partners in the near term. This paper studies the potential spillovers...

Persistent link: https://www.econbiz.de/10012977796

Business Cycle Convergence or Decoupling? Economic Adjustment in CESEE During the Crisis

Gächter, Martin - 2014

We analyze business cycle convergence in the EU by focusing on the decoupling vs. convergence hypothesis for central, eastern and south eastern Europe (CESEE). In a nutshell, we fnd that business cycles in CESEE have decoupled considerably from the euro area (EA) during the financial crisis in...

Persistent link: https://www.econbiz.de/10013064345

GDP-Inflation Cyclical Similarities in the CEE Countries and the Euro Area

Macchiarelli, Corrado - 2013

In this paper we look at business cycles similarities between CEE countries and the euro area. Particularly, we uncover …

Persistent link: https://www.econbiz.de/10013081633

The impact of firm financing constraints on R&D over the business cycle

Männasoo, Kadri; Meriküll, Jaanika - 2015

(CEE). Given that financial and venture capital markets in CEE are thin in comparison to those in high-income economies and … that many of CEE countries experienced a credit crunch during the last recession, it is proposed that financing constraints …-sources from ten CEE countries. The results suggest that the role of financing constraints for R&D expenditures in CEE countries is …

Persistent link: https://www.econbiz.de/10011326699

Domestic cycles, financial cycles, and policies: What has gone wrong?

Daianu, Daniel - 2017

The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized...

Persistent link: https://www.econbiz.de/10012056988

Foreign shocks as granular fluctuations

Di Giovanni, Julian; Levchenko, Andrei A.; Méjean, Isabelle - 2020

This paper uses a data set covering the universe of French firm-level sales, imports, and exports over the period 1993-2007 and a quantitative multi-country model to study the international transmission of business cycle shocks at both the micro and the macro levels. The largest firms are both...

Persistent link: https://www.econbiz.de/10012619524