Severe simultaneous recessions are defined to occur when at least half of the countries under investigation (Australia, Canada, Germany, Japan, United Kingdom, and United States) are in recession simultaneously. I pose two new research questions that extend upon stylized facts for US recessions....

The paper deals with assessing the common trends in business cycle similarity and convergence in Europe. The main goal of the paper is to identify common cyclical co-movements and trends in convergence among the European countries so that the emerging European business cycle could be identified....

Cyclical contractions differ from recession phases that are not only much less frequent but also more volatile. A major implication involves fiscal policy stance which in the Oecd area is dominated by automatical responses. Fiscal automatism explains why government spending is often procyclical...

The issues of business cycles assessment and most of all forecasting turning points represent crucial components in the game of crisis anticipation. The aim of this study is to statistically evaluate the predictive power of several macro economic variables in estimating economic changes and to...

This paper models the US dollar as a global currency and focuses on the effects of US money supply shock upon China's economy. The special roles of US dollar as a global currency and the special institutional arrangements of China are investigated. Given a positive US money supply shock, both...

In the period from 1880 to 1913, time-varying German and British stock market returns are related to business cycle variables such as the deviation of industrial production from trend. Common British and German business cycle dynamics Granger cause stock returns and explain more than 20% of time...

The core of this article is to study the impact of the last world economic crisis and world foreign direct investment fluctuations in the same period. The empirical study was based on data published by UNCTAD in annual reports, called World Investment Report. The research concerning the Polish...

European integration and enlargement, in the context of decreasing support of European country nationals, needs great men and great ideas standing with. J.M.Keynes proves in his book”The Economic Consequences of the Peace” that there is no other way for Europe than acts together. His...

Business cycle synchronization represents a condition for the successful implementation of the common monetary policy within the Economic and Monetary Union. There is a tight relation between business cycle synchronization and the economic convergence of the Member States of the Monetary Union....