EconPapers    
Economics at your fingertips  
 

Are European business cycles close enough to be just one?

Maximo Camacho and Gabriel Perez-Quiros
Authors registered in the RePEc Author Service: Gabriel Perez Quiros

No 16, Computing in Economics and Finance 2004 from Society for Computational Economics

Abstract: We propose a comprehensive methodology to characterize the business cycle comovements across European economies and some industrialized countries, always trying to "leave the data speak". Out of this framework, we propose a novel method to show that there is no "Euro economy" that acts as an attractor to the other economies of the area. We show that the relative comovements across EU economies are prior to the establishment of the Monetary Union. We are able to explain an important proportion of the distances across their business cycles using macro-variables related to the structure of the economy, to the directions of trade, and to the size of the public sector. Finally, we show that the distances across countries that belong to the European Union are smaller than the distances across newcomers

Keywords: Business cycle fluctuations; applied econometrics; international economics (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-eec, nep-ifn and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://www.um.es/econometria/Maximo/articulos/cycles.pdf main text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.um.es/econometria/Maximo/articulos/cycles.pdf [307 Moved Temporarily]--> https://www.um.es/econometria/Maximo/articulos/cycles.pdf)

Related works:
Journal Article: Are European business cycles close enough to be just one? (2006) Downloads
Working Paper: Are European Business Cycles Close Enough to be Just One? (2005) Downloads
Working Paper: Are european business cycles close enough to be just one? (2004) Downloads
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:sce:scecf4:16

Access Statistics for this paper

More papers in Computing in Economics and Finance 2004 from Society for Computational Economics Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum (baum@bc.edu).

 
Page updated 2024-09-11
Handle: RePEc:sce:scecf4:16