Similarities and Convergence in G7 Cycles

Fabio Canova, Matteo Ciccarelli and Eva Ortega

No 4534, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This Paper examines the properties of G-7 cycles using a multicountry Bayesian panel VAR model with time variations, unit specific dynamics and cross country interdependences. We demonstrate the presence of a significant world cycle and show that country specific indicators play a much smaller role. We detect differences across business cycle phases but, apart from an increase in synchronicity in the late 1990s, find little evidence of major structural changes. We also find no evidence of the existence of a euro area specific cycle or of its emergence in the 1990s.

Keywords: Business cycle; G7; Indicators; Panel data; Bayesian methods (search for similar items in EconPapers)
JEL-codes: C11 E32 (search for similar items in EconPapers)
Date: 2004-09
New Economics Papers: this item is included in nep-ecm and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
https://cepr.org/publications/DP4534 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Similarities and convergence in G-7 cycles (2007)
Working Paper: Similarities and convergence in G-7 cycles (2004)
Working Paper: Similarities and convergence in G-7 cycles (2004)
Working Paper: Similarities and convergence in G-7 cycles (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:4534

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP4534

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().