WILL BUSINESS CYCLES IN THE EURO AREA CONVERGE? A CRITICAL SURVEY OF EMPIRICAL RESEARCH

Jakob de Haan, Robert Inklaar and Richard Jong‐A‐Pin
Authors registered in the RePEc Author Service: Richard Jong-A-Pin ()

Journal of Economic Surveys, 2008, vol. 22, issue 2, 234-273

Abstract: Abstract This survey of business cycle synchronization in the European monetary union focuses on two issues: have business cycles become more similar, and which factors drive business cycle synchronization. We conclude that business cycles in the euro area have gone through periods of both convergence and divergence. Still, there is quite some evidence that during the 1990s business cycle synchronization in the euro area has increased. Higher trade intensity is found to lead to more synchronization, but the point estimates vary widely. The evidence for other factors affecting business cycle synchronization is very mixed.

Date: 2008
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Citations: View citations in EconPapers (227)

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https://doi.org/10.1111/j.1467-6419.2007.00529.x

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Working Paper: Will business cycles in the Euro Area converge: a critical survey of empirical research (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jecsur:v:22:y:2008:i:2:p:234-273

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