Spurious synchronization of business cycles: Dynamic correlation analysis of V4 countries

Svatopluk Kapounek and Jitka Poměnková

No 2012-22, MENDELU Working Papers in Business and Economics from Mendel University in Brno, Faculty of Business and Economics

Abstract: The purpose of our paper is to define rules for decision of existence spurious synchronization of countries within the currency area. We devote this new methodological approach from an empirical research based on the variability of a dynamic correlation (correlation in frequency domain). We analyze the dynamic correlation in full range and in the business cycle frequencies as well. We also consider lags in economic activity co-movements. Contrary to the standard approach we show its insufficiency especially in case of time domain instruments. For this goal GDP values in quarters of the four Visegrad countries and the Eurozone in the period 1997/Q1-2011/Q1 are used

Keywords: OCA theory; monetary policy efficiency; co-movements; Hamming window (search for similar items in EconPapers)
JEL-codes: E3 (search for similar items in EconPapers)
Pages: 16
Date: 2012-06
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://ftp.mendelu.cz/RePEc/men/wpaper/22_2012.pdf Full text (application/pdf)

Related works:
Journal Article: Spurious synchronization of business cycles - Dynamic correlation analysis of V4 countries (2012)
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:men:wpaper:22_2012

Access Statistics for this paper

More papers in MENDELU Working Papers in Business and Economics from Mendel University in Brno, Faculty of Business and Economics Contact information at EDIRC.
Bibliographic data for series maintained by Luděk Kouba ().