Stylized Facts of Euroland's Business Cycle

Jörg Döpke
Additional contact information
Jörg Döpke: Institute for the World Economy, Kiel

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1999, vol. 219, issue 5+6, pages 591-610

Abstract: The paper presents stylized facts of Euroland's business cycle using aggregated data. The main results are: the determination of turning points in Euroland's business cycle is not very sensitive to the detrending method used, although the level of the recent output gap depends on it. Investment, net exports and stock building explain the largest share of the swings in real GDP. The types of expenditures--except for net exports--are pro-cyclical with almost no lag or lead. The results for monetary variables are mixed. Prices are counter-cyclical, whereas labour productivity and real wages are pro-cyclical. The cyclical component of industrial production in all member countries shows a positive and over time increasing correlation coefficient with the one in the rest of Euroland.

Keywords: Business cycles; stylized facts; European Monetary Union (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Date: 1999
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.wiso-net.de/webcgi?START=A60&DOKV_DB=ZW ... 27140&DOKV_HS=0&PP=1 Main text (application/pdf)
http://search.ebscohost.com/login.aspx?direct=true ... 3959&site=ehost-live Main text (application/pdf)
Access via EBSCOhost Econlit - http://www.ebscohost.com/

Related works:
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: http://EconPapers.repec.org/RePEc:jns:jbstat:v:219:y:1999:i:5-6:p:591-610

Access Statistics for this article

More articles in Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik) from Justus-Liebig University Giessen, Department of Statistics and Economics
Contact information at EDIRC.
Series data maintained by Peter Winker ().